Assignment problem

PLEASE GUIDE HOW TO SOLVE THE BELOW PROBLEM

Kolkata City Corporation has decided to carry out road repairs on main four entries of the city. The Government has agreed to make a special grant of ` 53 Lakhs towards the cost with a condition that the repairs must be done at the lowest cost and quickest time. If conditions so warrant, Supplementary grant will also be considered favourably. The Corporation has floated tenders and 5 Contractors have sent in their bids. In order to expedite work, one road will be awarded to only one contractor.

As a cost Accountant, You have to: (i) Find out the best way of assigning of repair work to the contractors with the costs. (ii) If it is necessary to seek supplementary grants, then what should be the amount sought? (iii) Which of the five Contractors will be unsuccessful in his bid?