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Amarjit Truckers, Ltd. operates a fleet of delivery trucks in North America. The company has...

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Accounting

Amarjit Truckers, Ltd. operates a fleet of delivery trucks in North America. The company has determined that, if a truck is driven 130,000 kilometres during a year, the average operating cost is 18.000 cents per kilometre. If a truck is driven only 54,000 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.)Variable costFixed costper kilometre per year2. Express the variable and fixed costs in the form Y= a + bX.(Do not round intermediate calculations. Round the "Variable cost" to5 decimal places. Round "Fixed cost" to 2 decimal places.) Y=___+X

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