Leona noticed that different purchase orders took varying amounts of time to process. Purchase orders with stock items took less time than those with custom items, and purchase orders with only one or two items took less time than those with more items. It was also noted that the first purchase order for a new vendor took longer than if it was for an existing vendor. Using the general formula Y=m(X) + b format where Y= Total time allocated, m= Variable amount of time by type of transaction, X= Type of transaction and b = Fixed cost or Y-intercept, calculate Y for the following if the purchase order is being prepared for an existing vendor with no custom items and two stock items. New vendor= additional 6 minutes Custom items = additional 2 minutes per item Fixed cost for a basic purchase order = 3 minutes.

Answer rating: 100% (QA)

To calculate the total time allocated Y for preparing a purchase order for an existing vendor ... View the full answer