Mr Bogasu the English teacher of the grade lehen to resign at the end of the year and become a taxi owner as he has lost interest in
his work. The following is a sample of income and expenses of one month
from one taxi owner mentoring him
Income Expenses
R350
Taxi association
R450
Taxi License
R362
Insurance for the taxi
Maintainance cost
R80
1.Car wash
R9500
2. Fuel
R600
3. Repairs
Collected fares
R15900
TOTAL
R15900 R11342
2.1 What are variable costs?
2.2 List three variable costs.
(2)
2.3
Did the mentor make profit? Show all calculations.
(3)
2.4 Determine the mentor's profit margin. Round off to ano decimal numbers.
(4)
2.5 How can the mentor increase his profit?
(5)
14​