Cost Per Mile Spreadsheet
Our example (dowload below) includes many expenses that truckers encounter in their businesses. It may not accurately reflect your operation, however, and you should adapt it to match your expenses before attempting to use it. Fixed costs and variable costs are separated out in the form and then combined in the item at the bottom labeled, "Total Vehicle Costs."
The first column of figures contains the annual costs for each category. The second column divides the first column by 12 and gives you the monthly breakdowns. The third column is the result of dividing the annual costs by the number of miles run in the year. For our example we are assuming the truck was driven for 100,000 miles. So, since the annual mortgage payments on the truck were 16,000, we divide 16,000 by the 100,000 miles and we find the cost of the truck mortgage in $0.16 cents per mile.
The Cost of Operation report is both a reporting and a planning form. It will report your operation's expenses, but it allows you to play "If/Then" games with "Driver's Income" and "Total Cost of Operation." If you have determined a set driver's income, you can tell what gross income level you must hit to support that income given your annual expenses. The "Driver's Income" entry is the primary reason we're going through all this in the first place. Some drivers will enter a set figure of what they want to earn. Others will pay themselves a percentage of the business they do, so the more gross income they generate the more personal income they make. As a general rule of thumb, the driver should earn about 30% of the total gross revenue of the truck. Since the expenses should be the other 70%, you can take the "Total Vehicle Costs", divide by 70 and multiply the result by 30 to get the "Driver's Income." By adding the "Total Vehicle Expenses" and "Driver's Wage", you should have the "Total Cost of Operation" which should also be the total gross income for the year. If your actual gross income was more than what is on the sheet, congratulations, you made more for yourself than you planned on. If your actual gross income was less than what is on the sheet, your "Driver's Income is the difference between actual gross income and "Total Vehicle Costs." If it is less than 30 percent of the gross, you need to take steps to control your expenses or raise the gross, probably both.
INSTRUCTIONS: Open with Microsoft® Excel or online via ZOHO Sheet. Then, simply enter your personal data into the blue colored fields, based on your own operational expenses and income, and our calculator will formulate your annual operation summary for you. When using via ZOHO Sheet, select full screen view and then the "Click to Edit" button, this will allow you to enter your information.
Note: All figures currently shown are examples designed to demonstrate the uses of the calculator, try altering the numbers to see what will be generated.