Miss River Railroad decided to use the high-low method and operating data from the past six months to estimate the fixed and variable components of transportation costs. The activity base used by Miss River Railroad is a measure of railroad operating activity, termed "gross-ton miles," which is the total number of tons multiplied by the miles moved. Transportation Costs Gross-Ton Miles January $994,800 274,000 February 1,109,200 306,000 March 783,900 198,000 April 1,063,500 296,000 May 891,900 238,000 June 1,143,500 322,000 Determine the variable cost per gross-ton mile and the fixed costs. Round variable cost per unit to the nearest cent. Variable cost per gross-ton mile Fixed cost

Miss River Railroad decided to use the high-low method and operating data from the past six months to estimate the fixed and variable components of transportation costs. The activity base used by Miss River Railroad is a measure of railroad operating activity, termed "gross-ton miles," which is the total number of tons multiplied by the miles moved. Transportation Costs Gross-Ton Miles January $994,800 274,000 February 1,109,200 306,000 March 783,900 198,000 April 1,063,500 296,000 May 891,900 238,000 June 1,143,500 322,000 Determine the variable cost per gross-ton mile and the fixed costs. Round variable cost per unit to the nearest cent. Variable cost per gross-ton mile Fixed cost

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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Boston Railroad decided to use the high-low method and operating data from the past six months to estimate the fixed and variable components of transportation costs. The activity base used by Boston Railroad is a measure of railroad operating activity, termed “gross-ton miles,” which is the total number of tons multiplied by the miles moved. Transportation Costs Gross-Ton Miles January $1,776,000 560,000 February 2,700,000 1,000,000 March 1,650,000 500,000 April 1,860,000 600,000 May 1,440,000 400,000 June 1,566,000 460,000 Determine the variable cost per gross-ton mile and the total fixed cost. Variable cost (If required, round to two decimal places.) $fill in the blank 1 per gross-ton mile Total fixed cost $fill in the blank 2
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