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A bicycle manufacturer needs to order paint.Calculations indicate that 300 cans will be needed per year. The cost of each can is $15. The cost
A bicycle manufacturer needs to order paint.Calculations indicate that 300 cans will be needed per year. The cost of each can is $15. The cost associated with each order is $10. The cost to store each can for a year is $0.60.
- Develop a chart that clearly indicates the difference in storage costs, order costs, and total costs for ordering once, twice, three times, four times, five times, and six times per year.
- Plot and identify the relevant costs on a graph.
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