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Compute the operating cost per mile

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Reference no: EM131891146

You have gathered the following vehicle costs:

Vehicle Costs        Annual depreciation$2,900 Annual mileage 17,300    Current year's loan interest$950 Miles per gallon 24     Insurance$720 Average gasoline price$2.95 per gallon  License and registration fees$66 Oil changes/repairs$450    Parking/tolls$432    

(a) Calculate the annual variable and fixed costs of the vehicle.   

(b) Compute the operating cost per mile. (Enter your answer in cents rounded to 1 decimal place.)

Reference no: EM131891146

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