Hoi Chong Transport, Ltd., operates a fleet of delivery trucks in Singapore. The company has determined that if a truck is driven 114,000 kilometers…

Hoi Chong Transport, Ltd., operates a fleet of delivery trucks in Singapore. The company has determined that if a truck is driven 114,000 kilometers during a year, the average operating cost is 11.50 cents per kilometer. If a truck is driven only 94,000 kilometers during a year, the average operating cost increases to 13.40 cents per kilometer.(The Singapore dollar is the currency used in Singapore.)1. Using the high-low method, estimate the variable and fixed cost elements of the annual cost of the truck operation. (Round the variable cost per kilometer to 3 decimal places and the fixed cost to the nearest dollar amount. Omit the “$” sign in your response.)

"Get 15% discount on your first 3 orders with us"
Use the following coupon
"FIRST15"

Order Now