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Aldo Redondo drives his own car on company business. His employer reimburses him for such travel at the rate of 36 cents per mile. Aldo estimates that his fixed costs per year such as taxes, insurance, and depreciation are $2,052. The direct or variable costs such as gas, oil, and maintenance average about 14.4 cents per mile. How many miles must he drive to break even? (Do not round intermediate calculations. Round your final answer to the nearest integer.) Break-even miles point

Aldo Redondo drives his own car on company business. His employer reimburses him for such travel at the rate of 36 cents per mile. Aldo estimates that his fixed costs per year such as taxes, insurance, and depreciation are $2,052. The direct or variable costs such as gas, oil, and maintenance average about 14.4 cents per mile. How many miles must he drive to break even? (Do not round intermediate calculations. Round your final answer to the nearest integer.) Break-even miles point

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Aldo Redondo drives his own car on company business. His employer reimburses him for such travel at the rate of 36 cents per mile. Aldo estimates that his fixed costs per year such as taxes, insurance, and depreciation are $2,052. The direct or variable costs such as gas, oil, and maintenance average about 14.4 cents per mile. How many miles must he drive to break even? (Do not round intermediate calculations. Round your final answer to the nearest integer.) Break-even miles point
Transcribed Image Text:Aldo Redondo drives his own car on company business. His employer reimburses him for such travel at the rate of 36 cents per mile. Aldo estimates that his fixed costs per year such as taxes, insurance, and depreciation are $2,052. The direct or variable costs such as gas, oil, and maintenance average about 14.4 cents per mile. How many miles must he drive to break even? (Do not round intermediate calculations. Round your final answer to the nearest integer.) Break-even miles point
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