Systems Control needs some additional engineering talent for the next year. Due to the uncertain economic climate, management is wary of hiring full-time employees. They are exploring hiring contract employees for a 1-year contract. Working with a staffing agency they have narrowed the choices down to 5 people. Systems Control has five areas that need staffing and have determined the weekly number of standard hours required for each area. The staffing agency also provided a rating for each possible employee, a rating <1 means they are faster than the standard,>1 slower than the standard. For example, a rating of 1.2 means that the employee would take 1.2 hours to do 1 hour of standard work (standard hour*rating = actual hours). Each employees rating, hourly cost, signing bonus and the standard hours required are outlined in the table below. A - - means that the contractor is not capable of doing that task.

John Julie Jack Jason Janelle Required hours per week Circuit Design 1.14 1.15 1.05 -- 0.93 35 Module integration 1.01 0.96 1.05 1.16 1.12 20 CAM programming 1.13 0.82 -- 0.95 1.01 15 Customer support 0.89 0.87 0.84 0.95 1.02 30 Production Instructions 1.12 0.91 1.00 0.96 0.95 10 Per hour cost $30 $31 $31 $25 $30 Signing bonus $2,000 $4,500 $1,000 $3,000 $2,500

Systems Control wants to minimize the yearly cost to accomplish all the jobs outlined above. Systems Control assumes that the contractors can commit 80% of their 40-hour work week to the areas listed above. Assume that they will work 48 weeks in the coming year and the signing bonus is a fixed cost. Develop an Excel model to determine their contract hiring strategy.