Hoi Chong Transport, Limited, operates a fleet of delivery trucks in Singapore. The company has determined that if a truck is driven 93,000 kilometers during a year, the average operating cost is 9.2 cents per kilometer. If a truck is driven only 62,000 kilometers during a year, the average operating cost increases to 9.9 cents per kilometer. Required: 1. Using the high-low method, estimate the variable operating cost per kilometer and the annual fixed operating cost associated with the fleet of trucks. 2. Express the variable and fixed costs in the form Y = a + bX. 3. If a truck were driven 77,500 kilometers during a year, what total operating cost would you expect to be incurred?
Q: St. Vincent’s, Inc., currently uses traditional costing procedures, applying $833,000 of overhead to…
A: ACTIVITY BASED COSTINGActivity Based Costing is a powerful tool for measuring…
Q: Rawlings, Inc. manufactures a product that passes through two processes: mixing and molding. All…
A: The equivalent units are calculated on the basis of the percentage of the work completed during the…
Q: In 2023, Jack, age 12,
A: Answer:- Taxable income meaning:- The amount of revenue that is subject to the taxation, is…
Q: Top managers of Ekblad Industries predicted the following year’s sales of 150,000 units of its…
A: Variance arises when the actual costs differ from the standard costs. The results are favorable…
Q: Determine Joe and Jessie’s AGI and taxable income for the year. (Round your intermediate…
A: Taxable income refers to the income that is taxable in the hands of the taxpayer. In a nutshell, it…
Q: ede Corporation uses activity-based costing to compute product margins. In the first stage, the…
A: ABC costing is especially useful in circumstances when standard costing approaches may result in…
Q: Maribel Gomez is a single taxpayer, SS# 412-34-5670, living at 5037 Circle Court, Crestview, IL…
A: Income tax is based on income. Suppose a person has salary income, capital gain income, house rent…
Q: Kala and Leah, partners in Best Designs, have capital balances of $40,000 and $60,000, respectively.…
A: A Partnership is formed when two or more people decide to run a business together and agree to split…
Q: If a company's accounts receivable turnover cycle is 4.3 times and the accounts receivable balance…
A: Accounts receivables are those customer accounts to whom credit sales has been made, but amount has…
Q: Giannini Incorporated, which produces and sells a single product, has provided the following…
A: Variable costs are costs that vary with the change in the level of output whereas fixed costs are…
Q: Hannam Co. decided to change from the declining-balance method of depreciation to the straight-line…
A: Retained earnings means the amount of money retained by the entity out of profits rather than paying…
Q: Required information PayNet Inc. (PayNet) and Shale Ltd. (Shale) had the following balance sheets on…
A: Investment in Associates and Joint venture and Subsidiary Equity Accounting method - This method is…
Q: Iton Books buys books and magazines directly from publishers and distributes them to grocery ste…
A: A Schedule of Cash Payment for Inventory Purchases is a financial projection or plan that describes…
Q: Last year Minden Company introduced a new product and sold 14,000 units at a price of $72 per unit.…
A: The question is based on the concept of Cost Accounting.Net operating profit or loss is the…
Q: The comparative statement of financial position of Marigold Corporation as at December 31, 2023,…
A: Cash flow statement :— It is one of the financial statements that shows change in cash and cash…
Q: Adjusting entries for unearned and accrued fees The balance in the unearned fees account, before…
A: The journal entries are prepared to record the transactions on regular basis. The adjustment entries…
Q: e accounting records of Rockness Company provided the data below ($ in 000s). Net income $ 25,200…
A: The cash flow statement is prepared to record the cash flow from various activities during the…
Q: The following information is for the Jeffries Corporation Product A Selling price per unit $17…
A: Break even point :— It is the point of production where total cost is equal to total revenue. At…
Q: Determining supplies purchased The supplies and supplies expense accounts at December 31, after…
A: The journal entries are prepared to record the transactions on regular basis. The adjustment entries…
Q: Brand Company issued $1,000,000 face value, eight-year, 12% bonds on April 1, 2012, when the market…
A: Bond is like a debt security which is used and issued by one who borrows or owes loans from public,…
Q: Which of the following increases the Accumulated Adjustments Account (AAA) of an S Corporation? Cost…
A: For federal tax purposes, S corporations are businesses that choose to pass on corporate profits,…
Q: Indicate whether each of the following items is considered a primary authority or a secondary…
A: Primary authorities are the highest level of authority and include laws and regulations issued by…
Q: Ayayai Company reported 2025 net income of $151,300. During 2025, accounts receivable increased by…
A: cash flow statement :-
Q: Define liabilities. Provide three examples.
A: “Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: Parnell Company acquired construction equipment on January 1, 2020, at a cost of $77,000. The…
A: Introduction:A journal entry is used to record a company that will focus on a company's accounting…
Q: On January 2, 2020, Martinez Corporation issued $1,700,000 of 10% bonds at 97 due December 31, 2029.…
A: Bonds are the securities which are issued by the entities in order to raise capital for the…
Q: Balances for each of the following accounts appear in an adjusted trial balance. Identify each as an…
A: 1. Asset - Assets are like the possessions a company owns, such as cash, equipment, or land. They…
Q: Royal Enterprises has presented the following information for the past three months operations:…
A: VARIABLE COST Variable Cost is a cost that varies with the level of output.Variable costs include…
Q: The following is a listing of all of the income statement accounts for Mulberry Street Sportswear as…
A: Income statement is the financial statement which is prepared by the entity for the purpose of…
Q: When and why are analytical procedures performed by an auditor? Select all that apply. risk response…
A: Analytical procedures are a critical part of the audit process, helping auditors gain insights into…
Q: In a joint processing operation, Nolen Company manufactures three grades of sugar from a common…
A: Incremental Analysis :— This analysis shows the comparison between two different alternatives. A…
Q: Kincaid Company sells flags with team logos. Kincaid has fixed costs of $664,000 per year plus…
A: Break even point :— It is the point of production where total cost is equal to total revenue. At…
Q: nsport 123.000 kilometers during a year, the average operating cost is 13.2 cents per kilometer. If…
A: The high-low method is used to separate the fixed and variable costs from the mixed costs of…
Q: 10 is an unmarried
A: The deduction for interest on higher educations loans is provided only to certain tax payers who are…
Q: Blossom Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50 cents…
A: Income statement is one of the financial statements that shows the profitability, total revenue and…
Q: Pittman Company is a small but growing manufacturer of telecommunications equipment. The company has…
A: Contribution means the difference between the selling price and variable cost.Fixed cost when…
Q: The following are the current month's balances for ABC Financial Services, Inc. before preparing the…
A: A trial balance is a statement that contains ledger balances. The sum of debit and credit of the…
Q: Clarita Contracting builds roads, tunnels, bridges, and other transportation infrastructure. The…
A: Project cost refers to the total amount or funds required for a project. it is the total estimated…
Q: Cahuilla Corporation predicts the following sales in units for the coming four months: April May…
A: Budget:We prepare budgets for the future based on data available at present, Some of the budgets…
Q: 2. If you are a victim of a bad workplace relationship: A. Apologize if you were wrong, do not hold…
A: Bad workplace:A bad workplace is a negative or problematic interaction between individuals in a…
Q: Presented here is information for Crane Company. Income tax expense Casualty loss Loss from the sale…
A: Income statement is one of the financial statements that shows profitability, total revenue and…
Q: Determine the company's gross profit rate and profit margin for both years.
A: The income statement is a financial statement which shows the gross profit and net profit of a…
Q: Silver Company makes a product that is very popular as a Mother's Day gift. Thus, peak sales occur…
A: The company makes sales on cash but the company also makes sales on account to grab more customers.…
Q: explain the reasons why accounting information analysts have different types of diagrams and other…
A: Accounting information analysts often use various types of diagrams and visual representations to…
Q: Exercise 4-16 (Algo) Impacts of inventory error on key accounts LO P3 A retailer completed a…
A: Inventory is one of useful current asset being held in business. FOB shipping point means seller has…
Q: Bhekizizwe received the right to use of a company owned vehicle for the first time on 30 April 2022…
A: The determined value of the vehicle is calculated as a percentage of its actual retail market value,…
Q: Find the EAR in each of the following cases: (Use 365 days a year. Do not round intermediate…
A: The effective annual rate is referred to as that rate which is actually earned on investment after…
Q: Kronk, Incorporated provides the following information concerning the work in process at its plant:…
A: Material is the cost which is incurred by the entity on the making of the goods. It is a direct…
Q: Rowe Tool and Die (RTD) produces metal fittings as a supplier to various manufacturing firms in the…
A: Variable costs are those costs which changes along with change in sales activity level. Fixed costs…
Q: The Johnston Company has three product lines of beer mugs—A, B, and C—with contribution margins of…
A: Variable costs are costs that vary with the change in the level of output whereas fixed costs are…
Step by step
Solved in 4 steps
- Hoi Chong Transport, Limited, operates a fleet of delivery trucks in Singapore. The company has determined that if a truck is driven 162,000 kilometers during a year, the average operating cost is 13.2 cents per kilometer. If a truck is driven only 108,000 kilometers during a year, the average operating cost increases to 16.6 cents per kilometer. Required: 1. Using the high-low method, estimate the variable operating cost per kilometer and the annual fixed operating cost associated with the fleet of trucks. 2. Express the variable and fixed costs in the form Y = a + bX. 3. If a truck were driven 135,000 kilometers during a year, what total operating cost would you expect to be incurred? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Variable cost Fixed cost Required 3 Using the high-low method, estimate the variable operating cost per kilometer and the annual fixed operating cost associated with the fleet of trucks. (Do not round your…Hoi Chong Transport, Limited, operates a fleet of delivery trucks in Singapore. The company has determined that if a truck is driven 105,000 kilometers during a year, the average operating cost is 11.4 cents per kilometer. If a truck is driven only 70,000 kilometers during a year, the average operating cost increases to 13.4 cents per kilometer. Required: 1. Using the high-low method, estimate the variable operating cost per kilometer and the annual fixed operating cost associated with the fleet of trucks. 2. Express the variable and fixed costs in the form Y = a + bx. 3. If a truck were driven 80,000 kilometers during a year, what total operating cost would you expect to be incurred? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Using the high-low method, estimate the variable operating cost per kilometer and the annual fixed operating cost associated with the fleet of trucks. (Do not round your intermediate calculations. Round the…Hoi Chong Transport, Limited, operates a fleet of delivery trucks in Singapore. The company has determined that if a truck is driven 96,000 kilometers during a year, the average operating cost is 10.3 cents per kilometer. If a truck is driven only 64,000 kilometers during a year, the average operating cost increases to 11.5 cents per kilometer. Required: 1. Using the high-low method, estimate the variable operating cost per kilometer and the annual fixed operating cost associated with the fleet of trucks. 2. Express the variable and fixed costs in the form Y = a + bX. 3. If a truck were driven 80,000 kilometers during a year, what total operating cost would you expect to be incurred? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Using the high-low method, estimate the variable operating cost per kilometer and the annual fixed operating cost associated with the fleet of trucks. Note: Do not round your intermediate calculations. Round…
- Hoi Chong Transport, Ltd., operates a fleet of delivery trucks in Singapore. The company has determined that if a truck is driven 93,000 kilometers during a year, the average operating cost is 9.2 cents per kilometer. If a truck is driven only 62,000 kilometers during a year, the average operating cost increases to 9.9 cents per kilometer. Required: 1. Using the high-low method, estimate the variable operating cost per kilometer and the annual fixed operating cost associated with the fleet of trucks. 2. Express the variable and fixed costs in the form Y = a + bX. 3. If a truck were driven 77,500 kilometers during a year, what total operating cost would you expect to be incurred?ABC Ltd., operates a fleet of delivery trucks in Singapore. The company has determined that if a truck is driven 138,000 kilometers during a year, the average operating cost is 14.8 cents per kilometer. If a truck is driven only 92,000 kilometers during a year, the average operating cost increases to 18.6 cents per kilometer. Required: 1. Using the high-low method, estimate the variable operating cost per kilometer and the annual fixed operating cost associated with the fleet of trucks. 2. Express the variable and fixed costs in the form Y = a + bx. 3. If a truck were driven 115,000 kilometers during a year, what total operating cost would you expect to be incurred?Hoi Chong Transport, Ltd., operates a fleet of delivery trucks in Singapore. The company has determined that if a truck is driven 93,000 kilometers during a year, the average operating cost is 9.2 cents per kilometer. If a truck is driven only 62,000 kilometers during a year, the average operating cost increases to 9.9 cents per kilometer. Using the high-low method, estimate the variable operating cost per kilometer and the annual fixed operating cost associated with the fleet of trucks. (Do not round your intermediate calculations. Round the Variable cost per kilometer to 3 decimal places.) Express the variable and fixed costs in the form Y = a + bX. (Do not round your intermediate calculations. Round the Variable cost per kilometer to 3 decimal places.) If a truck were driven 77,500 kilometers during a year, what total operating cost would you expect to be incurred? (Do not round intermediate calculations.)
- Habib transport company Itd, operates a fleet of delivery trucks in Singapore. The Company has determined that if a truck is driven 135,000 kilometers during a year, The average operating cost is 11.8 cent per kilometers. If a truck driven 95,000 kilometers during a year, the average operating cost increases to 13.6 cents per kilometers. Requirement a) Using high-low method estimate the variable and fixed costs elements of the annual cost of truck operators. b) Express the variable and fixed costs in the form y= a +bx e) if a truck were driven to 100,000 kilometers during a year, what total cost would you expect to be incurred?Lucky Transport, Ltd., operates a fleet of delivery trucks in the United States. The company has determined that if a truck is driven 105,000 kilometers during a year, the average operating cost is 11.4 cents per kilometer. If a truck is driven only 70,000 kilometers during a year, the average operating cost increases to 13.4 cents per kilometer. 1. Using the high-low method, determine the following: a. Variable Cost per kilometer b. Fixed Cost per year 2. If a truck was driven 80,000 kilometers during a year, what total cost would you expect to be incurred?Amarjit Truckers, Ltd. operates a fleet of delivery trucks in North America. The company has determined that, if a truck is driven 120,000 kilometres during a year, the average operating cost is 18.000 cents per kilometre. If a truck is driven only 50,000 kilometres during a year, the average operating cost increases to 21.0 cents per kilometre. Required: 1. Using the high - low method, estimate the variable and fixed cost elements of the annual cost of truck operation. (Do not round intermediate calculations. Round the "Variable cost" to 5 decimal places. Round "Fixed cost" to 2 decimal places.) 2. Express the variable and fixed costs in the form Y = a + bX. (Do not round intermediate calculations. Round the "Variable cost" to 5 decimal places. Round "Fixed cost" to 2 decimal places.) 3. If a truck were driven 80,000 kilometres during a year, what total cost would you expect to be incurred? (Do not round intermediate calculations. Round "Total annual cost" to 2 decimal places.)
- We Deliver operates a fleet of delivery trucks in Halifax. Analysis shows that if a truck is driven 150,000 kilometres during a year, the average operating cost is 11.9 cents ($0.119) per kilometre. If a truck is driven only 94,000 kilometres during a year, the average operating cost increases to 13.9 cents ($0.139) per kilometre. Required: 1. Using the high-low method, estimate the variable and fixed cost elements of the annual cost of truck operation. (Do not round your intermediate calculations. Round the "Variable cost per kilometer" to 3 decimal places.) High level of activity Low level of activity Change Variable cost per kilometer Fixed cost per year = Kilometers Driven 2. Express the variable and fixed costs in the form Y= a + bX. (Do not round your intermediate calculations. Round the "Variable cost per kilometer" to 3 decimal places.) Total Annual Cost Total annual cost 3. If a truck were driven 127,000 kilometres during a year, what total cost would you expect to be…We Deliver operates a fleet of delivery trucks in Halifax. Analysis shows that if a truck is driven 159,000 kilometres during a year, the average operating cost is 12.0 cents ($0.120) per kilometre. If a truck is driven only 85,000 kilometres during a year, the average operating cost increases to 13.9 cents ($0.139) per kilometre. Required: 1. Using the high–low method, estimate the variable and fixed cost elements of the annual cost of truck operation. (Do not round your intermediate calculations. Round the "Variable cost per kilometer" to 3 decimal places.) 2. Express the variable and fixed costs in the form Y = a + bX. (Do not round your intermediate calculations. Round the "Variable cost per kilometer" to 3 decimal places.) 3. If a truck were driven 139,400 kilometres during a year, what total cost would you expect to be incurred? (Do not round intermediate calculations. Round the "Variable cost per kilometer" to 3 decimal places.)BBMLOVESLENI Company operates a fleet of delivery trucks in Luzon. The company has determined that if a truck is driven 105,000 kilometers during a year, the average operating cost is P11.40 per kilometer. If a truck is driven only 70,000 kilometers during a year, the average operating cost increases to P13.40 per kilometer. Assuming that in a given year, a truck were driven 80,000 kilometers, what total cost would you expect to be incurred? * A. P1,012,000 B. P1,407,000 C. P1,225,143 D. P1,072,000