DataCost of motor car5 500Trade-in price after two years or 60 000 miles isexpected to be 1.500Maintenance - six-monthly service costing.60Spares/replacement parts, per 1000 miles20Vehicle licence, per annum80Insurance, per annum150Tyre replacements after 25 000 miles, four at £37.50eachPetrol, per gallon1.90Average mileage from one gallon is 25 miles.From the above data, you are required:To prepare a schedule to be presented to managementshowing for the mileages of 5000, 10 000, 15 000 and30 000 miles per annum:1 total variable cost;2 total fixed cost;3 total cost;4 variable cost per mile (in pence to nearest penny);5 fixed cost per mile (in pence to nearest penny);6 total cost per mile (in pence to nearest penny).

Answered: Image /qna-images/answer/acf193a9-10a2-4a19-8743-51a932d57a87.jpg

From the above data, you are required: To prepare a schedule to be presented to management showing for the mileages of 5000, 10 000, 15 000 and 30 000 miles per annum: 1 total variable cost; 2 total fixed cost; 3 total cost; 4 variable cost per mile (in pence to nearest penny); 5 fixed cost per mile (in pence to nearest penny); 6 total cost per mile (in pence to nearest penny).

From the above data, you are required: To prepare a schedule to be presented to management showing for the mileages of 5000, 10 000, 15 000 and 30 000 miles per annum: 1 total variable cost; 2 total fixed cost; 3 total cost; 4 variable cost per mile (in pence to nearest penny); 5 fixed cost per mile (in pence to nearest penny); 6 total cost per mile (in pence to nearest penny).

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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