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What is the variable gasoline cost of going one mile

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Cost-volume-profit analysis can also be used in making personal financial decisions. For example, the purchase of a new car is one of your biggest personal expenditures. It is important that you carefully analyze your options.

Suppose that you are considering the purchase of a hybrid vehicle. Let's assume the following facts. The hybrid will initially cost an additional $3,600 above the cost of a traditional vehicle. The hybrid will get 30 miles per gallon of gas, and the traditional car will get 20 miles per gallon. Also, assume that the cost of gas is $3.60 per gallon.

Problem 1: What is the variable gasoline cost of going one mile in the hybrid car? What is the variable cost of going one mile in the traditional car?

Problem 2: How many miles would you have to drive in order to break even on your investment in the hybrid car?

Reference no: EM132954179

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