Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. joyce murphy runs a courier service in downtown se

Joyce Murphy runs a courier service in downtown Seattle. She charges clients $0.58 per mile...

80.2K

Verified Solution

Question

Accounting

image

Joyce Murphy runs a courier service in downtown Seattle. She charges clients $0.58 per mile driven. Joyce has determined that if she drives 2,200 miles in a month, her total operating cost is $600. If she drives 3,300 miles in a month, her total operating cost is $798 Required: 1. Using the high-low method, determine Joyce's variable and fixed operating cost components. (Round your cost per unit answer to 2 decimal places.) Variable Cost per Mile Driven Fixed Cost 2. Complete the contribution margin income statement for Joyce's service assuming she drove 1,350 miles last month. (Assume this falls within the relevant range of operations). JOYCE MURPHY Contribution Margin Income Statement For the Last Month Contribution Margin Net Operating Income

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Statistics
1.2K views

Students of a large university spend an average of $6 a day on lunch. The standard...

Biology
1.2K views

1. There are a number of different vectors that are used for different purposes in research...

Biology
1.2K views

Prenatal care during pregnancy is vital for both the mother and unborn child What happens...

Physics
1.2K views

In a NPN transistor common emitter mode 1010 electrons enter the emitter in 1 s...

Calculus
1.2K views

Find the centroid of the region bounded by y x 338 and x 338 assuming...

Calculus
1.2K views

What is the direction of w 12 4 113 degrees Round to the nearest hundredth...

Accounting
1.2K views

need the number at the bottom Exercise 13-15 (Algo) Dropping or Retaining...

Accounting
1.2K views

Catherine Jones has determined the following information about her own financial situation. Her checking account...

Accounting
1.2K views

What does a flexible budget performance report do that a simple comparison of budgeted to...

Accounting
1.2K views

a company purchased a new truck on january 1,2019. the purchase price was 24,000. The...

Accounting
1.2K views

Yore Company produced and sold 1,200 units of one product and had the following information:...

Accounting
1.2K views

COMMISSION EARNINGS Penny works for TSX in Ontario where she is a commissioned salesperson TSX...