Dollars & Sense – June 2009

Updated Mar 3, 2025

To really focus on the bottom line, as I discussed last month, you need to monitor costs closely. One of the best ways of doing so is to figure your cost per mile.

The calculation is relatively easy. Knowing how to apply CPM to your operation is more involved. There are variables to be considered and many ways to interpret and use the results.

To calculate CPM, you need exact miles driven, fixed costs and variable costs for a specific time frame. Fixed costs are those that don’t change from month to month and have nothing to do with how many miles you drive, such as your truck note. Variable costs are just the opposite – they vary with the miles you drive. Fuel is the clearest example.

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