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Estimate the variable and fixed cost elements of annual cost

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Hoi Chong Transport, Ltd. operates a ?eet of delivery trucks in Singapore. The company has determined that if a truck is driven 124,000 kilometres during a year, the average operating cost is 12.519 cents per kilometre. If a truck is driven only 89,000 kilometres during a year, the average operating cost increases to 16.4 cents per kilometre. (The Singapore dollar is the currency used in Singapore.)

Required:

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

Reference no: EM132688429

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