Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Hilo Truckin' Company collected the following information on miles driven and related vehicle costs for 2019. Month Miles driven Vehicle Cost January 43.000 $60,000

image text in transcribed
image text in transcribed
The Hilo Truckin' Company collected the following information on miles driven and related vehicle costs for 2019. Month Miles driven Vehicle Cost January 43.000 $60,000 February 60,000 86,000 March 35,000 50,000 April 20.000 35,500 May 66,000 105,000 June 40,000 55,000 July 30,000 46,000 August 28,000 43,500 September 15,000 28,500 October 17,000 18,000 November 50,000 66,500 December 55,000 71,500 Use the above information and the high-low method to answer the following questions. 1. Calculate the variable cost per mile. 2. Calculate the total fixed cost. 3. If Hilo estimates driving 25,000 miles in April of 2020, what is the total estimated vehicle cost for that month? 4. The estimated cost formula can be used within what relevant range

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Security Risk Handbook Assess Survey Audit

Authors: Charles Swanson

1st Edition

1032030356, 978-1032030357

More Books

Students also viewed these Accounting questions

Question

Write all the ion solubility rules you know

Answered: 1 week ago