How do I find accounting profit, producer surplus, variable cost for this spreadsheet? **Trucking Firm: Costs and Revenue**---### Operation Specifics:- **How many loaded miles did you run last year?**: 100,000 miles- **Total Miles last year**: 100,000 miles - **Average MPG**: 6 miles per gallon - **Average price per gallon**: $3.75 - **Gallons of Tractor fuel purchased in last year**: 16,667 gallons---### Revenue (Yearly):- **Gross earnings from truck(s)**: $200,000.00 - **Per Mile Figures**: $2.00---- **Total Revenue Last Year**: $200,000.00---### Operation Fixed Costs (Yearly):- **Yearly Truck payment**: $30,131- **Truck Insurance (physical, bobtail, cargo, etc.)**: $7,500.00- **Primary Medical insurance premiums**: $2,640.00- **Licenses, Registrations, and Permits (annual vehicle inspection, IRP, UCR, HUVT 2290)**: $1,800.00- **Electronic Logging Device**: $1,190.00- **Phone & Internet**: $2,000.00---**Total Fixed Costs Last Year**: $45,261.00---### Operation Variable Costs (Yearly):- **Tractor Fuel**: $62,500.00 - **Per Mile Figures**: $0.63- **Permits, Tolls & Taxes (IFTA, KYU, OR or NM State Permit, Tolls, Scale)**: $2,500.00 - **Per Mile Figures**: $0.03- **Maintenance & Supplies (tires, repairs, washes, fuel additives, small tools, etc.)**: $21,000.00 - **Per Mile Figures**: $0.21- **Travel Expense (Hotel/Lodging, paid parking, shower, etc.)**: $1,000.00 - **Per Mile Figures**: $0.01- **Taxes (Property, etc.)**: $4,000.00 - **Per Mile Figures**: $0.04---**Total Variable Costs Last Year**: $91,000.00

Accounting Profit: The amount of gain which is determined by deducting the charges incurred from the…

Turcking Firm: Costs and Revenue Operation Specifics: How many loaded miles did you run last year? Total Miles last year Average MPG Average price per gallon Gallons of Tractor fuel purchased in last year? Revenue (Yearly): Gross earnings from truck(s) Total Revenue Last Year Operation Fixed Costs (Yearly): Yearly Truck payment Truck Insurance (physical, bobtail, cargo, etc.) Primary Medical insurance premiums Licenses, Registrations, and Permits (annual vehicle inspection, IRP, UCR, HUVT 22 Electronic Logging Device Phone & Internet Total Fixed Costs Last Year Operation Variable Costs (Yearly): Tractor Fuel Permits, Tolls & Taxes (IFTA, KYU, OR or NM State Permit, Tolls, Scale) Maintenance & Supplies (tires, repairs, washes, fuel additives, small tools, etc.) Travel Expense (Hotel/Lodging, paid parking, shower, etc.) Taxes (Property, etc.) Total Variable Costs Last Year Per Mile Figures 100,000 100,000 6 $3.75 16,667 $200,000.00 $200,000.00 $30,131 $7,500.00 $2,640.00 $1,800.00 $1,190.00 $2,000.00 $45,261.00 Assume all variable costs, like fuel, are incurred per mile $62,500.00 $0.63 $2,500.00 $0.03 $21,000.00 $0.21 $1,000.00 $0.01 $4,000.00 $0.04 $91,000.00 $0.91 $2.00 $2.00

Turcking Firm: Costs and Revenue Operation Specifics: How many loaded miles did you run last year? Total Miles last year Average MPG Average price per gallon Gallons of Tractor fuel purchased in last year? Revenue (Yearly): Gross earnings from truck(s) Total Revenue Last Year Operation Fixed Costs (Yearly): Yearly Truck payment Truck Insurance (physical, bobtail, cargo, etc.) Primary Medical insurance premiums Licenses, Registrations, and Permits (annual vehicle inspection, IRP, UCR, HUVT 22 Electronic Logging Device Phone & Internet Total Fixed Costs Last Year Operation Variable Costs (Yearly): Tractor Fuel Permits, Tolls & Taxes (IFTA, KYU, OR or NM State Permit, Tolls, Scale) Maintenance & Supplies (tires, repairs, washes, fuel additives, small tools, etc.) Travel Expense (Hotel/Lodging, paid parking, shower, etc.) Taxes (Property, etc.) Total Variable Costs Last Year Per Mile Figures 100,000 100,000 6 $3.75 16,667 $200,000.00 $200,000.00 $30,131 $7,500.00 $2,640.00 $1,800.00 $1,190.00 $2,000.00 $45,261.00 Assume all variable costs, like fuel, are incurred per mile $62,500.00 $0.63 $2,500.00 $0.03 $21,000.00 $0.21 $1,000.00 $0.01 $4,000.00 $0.04 $91,000.00 $0.91 $2.00 $2.00

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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Question

How do I find accounting profit, producer surplus, variable cost for this spreadsheet?

**Trucking Firm: Costs and Revenue**

---

### Operation Specifics:
- **How many loaded miles did you run last year?**: 100,000 miles
- **Total Miles last year**: 100,000 miles

- **Average MPG**: 6 miles per gallon
- **Average price per gallon**: $3.75
- **Gallons of Tractor fuel purchased in last year**: 16,667 gallons

---

### Revenue (Yearly):
- **Gross earnings from truck(s)**: $200,000.00
- **Per Mile Figures**: $2.00

---
- **Total Revenue Last Year**: $200,000.00

---

### Operation Fixed Costs (Yearly):
- **Yearly Truck payment**: $30,131
- **Truck Insurance (physical, bobtail, cargo, etc.)**: $7,500.00
- **Primary Medical insurance premiums**: $2,640.00
- **Licenses, Registrations, and Permits (annual vehicle inspection, IRP, UCR, HUVT 2290)**: $1,800.00
- **Electronic Logging Device**: $1,190.00
- **Phone & Internet**: $2,000.00

---

**Total Fixed Costs Last Year**: $45,261.00

---

### Operation Variable Costs (Yearly):
- **Tractor Fuel**: $62,500.00
- **Per Mile Figures**: $0.63
- **Permits, Tolls & Taxes (IFTA, KYU, OR or NM State Permit, Tolls, Scale)**: $2,500.00
- **Per Mile Figures**: $0.03
- **Maintenance & Supplies (tires, repairs, washes, fuel additives, small tools, etc.)**: $21,000.00
- **Per Mile Figures**: $0.21
- **Travel Expense (Hotel/Lodging, paid parking, shower, etc.)**: $1,000.00
- **Per Mile Figures**: $0.01
- **Taxes (Property, etc.)**: $4,000.00
- **Per Mile Figures**: $0.04

---
**Total Variable Costs Last Year**: $91,000.00

Definition Definition Producer’s gain from trade. The producer surplus is the area above the supply curve but below the equilibrium price and up to the equilibrium quantity.

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