Using the high-low method estimate the variable and fixed, Accounting Basics

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Using the high-low method estimate the variable and fixed

If a truck is driven 131,000 miles during a year, the averageoperating cost is 11.9 cents per mile. If a truck is drivenonly 84,000 miles during a year, the average operating costincreases to 13.3 cents per mile.

1. Using the high-low method, estimate the variable and fixed cost elements of the annual cost of truck operation.

Variable cost per mile-Fixed cost per year-

2. Express the variable and fixed costs in the formY=a+bX
Y= $_________ + $____________X

3. Based on the formula computed #2, what wiould you expectthe total cost to be at 100,000 miles?

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Accounting Basics: Using the high-low method estimate the variable and fixed

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Accounting Basics: Using the high-low method estimate the variable and fixed

Reference No:- TGS0596010

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : What the applicant expects to accomplish by completing this

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Using the high-low method estimate the variable and fixed

Reference No:- TGS0596010

Recent Questions Asked Accounting Basics

Q : What the applicant expects to accomplish by completing this

Q : A circular loop of wire with areal a lies in the xy-plane

Q : Once init is negated z should remain 0 until x has been 0

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Q : A 100-ohm lossless transmission line is to be matched to a

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