Truck Operating Cost Calculator in Excel (Create with Easy Steps)

Calculating the operating cost for a truck is very important to get the actual data regarding the profit or loss in the transportation business. But calculating the cost can be difficult since there are a lot of variables to consider as well as different types of costs. However, a truck operating cost calculator in Excel makes it easier for you. In this article, you will find ways to use a cost calculator in Excel to calculate the operating cost of your truck.

Truck Operating Cost Calculator Excel

Truck Operating Cost Calculator in Excel: Create with Easy Steps

Step 1: Calculate Fixed Costs

The first step in creating a truck operating cost calculator is to calculate the fixed cost of the truck. Initially, we will calculate the fixed cost for each month. Then, we will calculate it for a financial year.

  • First, in the Cost Type column, give the names of various cost types like “Insurance”, “License” etc. We have added only 6 types of fixed costs to our dataset. Include more if your truck has other types of fixed costs.

Fixed Cost Types for a Truck

  • After that, add values in the Monthly Expense column and change the data type of that column into the Currency format.

Changing Data Types of Monthly Expense

  • Just after that, write down the following formula in the cell D5 and hit ENTER. Use Fill Handle to fill up the remaining cells as well.

Assigning Formula in Cells

You will find that some of the cells in Column D are blank. We have used the IFERROR function intentionally to keep it blank.

At this point, we will overwrite the formula in those cells and assign exact values in those cells (we kept those blank because some of the values (e.g. depreciation) are exclusively calculated after the end of every year).

  • Double-click on a cell and then press Delete button.

Deleting Formula from a Cell

  • Secondly, write down the value in the cell in a normal way.

Overwriting Formulas in Cells

  • Finally, we will calculate the total fixed cost. In cell D11, write down the formula below to get the result.

Finding Total Fixed Cost

Read More: How to Create Cost of Delay Calculator in Excel

Step 2: Determine Variable Costs

  • Calculating variable costs is almost similar to calculating fixed costs. Just change the entries in the Cost Type column, like in the following image.

Changing Cost Types in Variable Costs

  • The process of assigning values and formulas for the Monthly Expense and Yearly Expense columns is just the same as the Fixed Cost calculation (Step 1). Repeat them and get the following result.

Repeating the Process of Fixed Cost for Monthly and Annual Expenses

Step 3: Find Total Costs 

Calculating the total cost of a truck is very simple. Just add two types of costs using the SUM function.

  • In our worksheet, we have kept the calculations of two types of costs on different sheets. So, while calculating total costs, we will give reference to those sheets, like in the following image.

Reference to a Different Sheet

  • Do the same for variable costs as well.
  • Now, apply the simple formula in cell C8 to get the total costs.

You will get the following result on your worksheet.

Total Costs Consists of Variable and Fixed Costs to calculate truck operating cost in Excel

Read More: How to Use Cost Benefit Analysis Calculator in Excel

Step 4: Calculate Total Costs and Cost Per Mile

Since we have calculated the total cost of a truck in the previous step, we will divide that value by the Total Distance covered by the truck (in mile).

  • Write down the total distance the truck has traveled in cell C10.
  • Apply the following formula in C11 to get the Cost Per Mile‘s value.

Calculating Cost Per Mile Value to calculate truck operating cost in Excel

[Bonus!] Free Template for Truck Operating Cost Calculator

In the Excel file of the download workbook section, you will find an exclusive truck operating cost template. Use it to make your business easier. The following image will give you an idea of the template.

Template for Truck Operating Cost in Excel

Things to Remember

  • Over time, fixed costs remain the same while variable costs continue to increase as long as you operate your truck.
  • Truck operating costs will vary according to the service life of the truck. Two trucks with the same configuration, but different service life will have different operating costs.
  • Some other factors that influence truck operating costs are: fuel costs, fuel efficiency, driver wages etc.

Frequently Asked Questions

1. What does the term Cost Per Mile mean?

Cost per mile (CPM) is a metric used to measure the cost of delivering a service over a given distance.

2. How do you calculate trucking profit?

Trucking profit is calculated by subtracting total direct expenses, including fuel, maintenance, and truck-related costs, as well as indirect expenses like insurance, permits, and administrative costs, from gross revenue, resulting in the net profit figure.

3. How do you calculate truck efficiency?

You measure your trucks’ efficiency by expressing the revenue for one truck as a fraction of the total revenue in one month divided by the number of trucks you have.

Download Practice Workbook

You may download the following workbook to practice yourself.


Hey! You have reached the end of the article on truck operating cost calculator in Excel. Hopefully, you enjoyed all the items covered in the article, and you will apply the template to calculate operating cost of your truck. If you find this article helpful, please share it with your friends. Moreover, do let us know if you have any further queries. Finally, please visit our site for more exciting articles on Excel.

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Md Junaed-Ar-Rahman, a Biomedical Engineering graduate from Bangladesh University of Engineering and Technology, has contributed to the ExcelDemy project for one year. As a technical content developer, he has authored 15+ unique articles and actively addressed user problems. He participated in 2 specialized training programs on VBA and Chart & Dashboard design in Excel. His passion lies in solving problems uniquely and exploring new functions and formulas. Eager for future exploration, he aims to gain proficiency in applications... Read Full Bio

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