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Joyce Murphy runs a courier service in downtown Seattle. She charges clients $0.52 per mile...

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Accounting

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Joyce Murphy runs a courier service in downtown Seattle. She charges clients $0.52 per mile driven. Joyce has determined that if she drives 2,050 miles in a month, her total operating cost is $525. If she drives 3,150 miles in a month, her total operating cost is $657. Required: 1. Using the high-low method, determine Joyce's variable and fixed operating cost components. 2. Complete the contribution margin income statement for Joyce's service assuming she drove 1,200 miles last month. (Assume this falls within the relevant range of operations)

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