Michael was driving back to the office from his off-site construction job on Friday. He had put in a long week and just wanted to go home. But a text from Robert back in the office reminded him to enter his weekly mileage-the accountants needed to finish the company's total fleet expenses for its quarterly income statement-and the performance evaluation meeting was on Monday. Michael was frustrated that his weekend was now going to be delayed because of this data entry business. He wondered why Robert couldn't just use the fuel cost for the income statement. In the end, Michael complied with Robert's request and input his mileage information. Michael's mileage was added to the other vehicles' mileage information, with the quarterly totals listed below. Total fleet expenses on the income statement are a combination of the five costs shown here. 8888 Q1 Q2 Q3 Q4 Vehicle Insurance $1,700 1,700 1.700 1,700 Registration Fees Fuel $1.100 $2,700 1,100 3,000 1,100 2,600 1,100 3,200 Depreciation (Shed & Vehicles) $5,100 5,100 5,100 5,100 Vehicle Maintenance Miles Driven $2.565 27,000 2,610 30,000 2,354 26,000 2,828 32,000
Michael was driving back to the office from his off-site construction job on Friday. He had put in a long week and just wanted to go home. But a text from Robert back in the office reminded him to enter his weekly mileage-the accountants needed to finish the company's total fleet expenses for its quarterly income statement-and the performance evaluation meeting was on Monday. Michael was frustrated that his weekend was now going to be delayed because of this data entry business. He wondered why Robert couldn't just use the fuel cost for the income statement. In the end, Michael complied with Robert's request and input his mileage information. Michael's mileage was added to the other vehicles' mileage information, with the quarterly totals listed below. Total fleet expenses on the income statement are a combination of the five costs shown here. 8888 Q1 Q2 Q3 Q4 Vehicle Insurance $1,700 1,700 1.700 1,700 Registration Fees Fuel $1.100 $2,700 1,100 3,000 1,100 2,600 1,100 3,200 Depreciation (Shed & Vehicles) $5,100 5,100 5,100 5,100 Vehicle Maintenance Miles Driven $2.565 27,000 2,610 30,000 2,354 26,000 2,828 32,000
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter2: Financial Statements And The Annual Report
Section: Chapter Questions
Problem 2.1P: Materiality Joseph Knapp, a newly hired accountant wanting to impress his boss, stayed late one...
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Michael was driving back to the office from his off-site construction job on Friday. He had put in a long week and just wanted to go
home. But a text from Robert back in the office reminded him to enter his weekly mileage-the accountants needed to finish the
company's total fleet expenses for its quarterly income statement-and the performance evaluation meeting was on Monday. Michael
was frustrated that his weekend was now going to be delayed because of this data entry business. He wondered why Robert couldn't
just use the fuel cost for the income statement.
In the end, Michael complied with Robert's request and input his mileage information. Michael's mileage was added to the other
vehicles' mileage information, with the quarterly totals listed below. Total fleet expenses on the income statement are a combination
of the five costs shown here.
Q1
Q2
Q3
Q4
Vehicle
Insurance
$1,700
1,700
1,700
1,700
Registration
Fees
Fuel
$1,100 $2,700
1,100
1,100
1,100
3,000
2,600
3,200
Depreciation
(Shed & Vehicles)
$5,100
5,100
5,100
5,100
Vehicle
Maintenance
$2.565
2,610
Miles
Driven
27,000
30,000
2,354
2,828 32,000
26,000
Transcribed Image Text:Place all of this Fleet Expense information
into one final cost function where Y is Total
Fleet Expenses, and X is number of miles
driven. Write out the formula in Y = m(X) + b
format. (Round variable cost per unit to 3
decimal places, e.g. 15.256.)
Y = $
eTextbook and Media
Save for Later
X+ $
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