Solve all three parts-

1. Variable cost

Fixed

2. Express the variable and fixed cost in the form Y = a + bX

3. Total cost expected to be incurred if the truck were driven 92000

Hot Chong Transport. Ltd. operates a fleet of dellvery trucks in Singapore. The company has detemined that if a truck is diviven 18,000 kilometres duting a yeab, the average operating cost is 12.512 cents per kilometre Il a fruck is diven only 82,000 kilometres during a year, the average operating cost increases to 15.7 cents per kilometre. (The Singopore dotlar is the currency used in singapore) Required: 1. Using the high .low method, estimate the varlable and fixed cost elements of the annual cost of truck operation. (Round the "Varioble cost" to 5 decimal ploces. Round "Fixed cost" to 2 decimal ploces.) 2. Express the variable and fixed costs in the form Y=a+bX. (Round the "Varioble cost' to 5 decimal ploces. Round 'Fixed cost" to 2 decimal ploces.) 3. If a truck were drlven 92,000 killometres during a year, what total cost would you expect to be incurred? (Do not round intermediate colculotions, Round "Total onnuol cost" to 2 decimal ploces.)