Fran's Fleet (legal business name of #BN790997295) operates a fleet of passenger vans that passengers from one pick up location in a small town to three locations: the airport, the train station and the theatre. The company uses a traditional costing system in which it applies overhead costs to its different routes using a predetermined company-wide overhead rate based on kilometers driven. Information about the three routes is provided below. tics Airport $4.78 $2.00 35,70 Train Station Theatre Direct materials per passenger per trip Direct labour per passenger per trip Kilometers per passenger per trip $5.93 $4.11 $4.49 47.92 $4.82 59.43 The company's estimated total overhead cost for the year is $948,000 and the company's estimate total kilometers for the year is 130,000 KM. How much overhead would be applied to a passenger on a trip to the theatre? Round to two cents and enter your answer with no dollar signs or commas. Your Answer: Answer

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Capital Gain

Any capital asset when sold can give the seller a higher or lower price from its purchase price leading to a capital gain or capital loss. The time period of holding an asset is decided based on if it is a long term or short-term capital gain. On that basis, the rate of taxation is decided if it is 20%, 15% or according to the tax brackets. The rate of taxation differs in the case of equity or debt, whether long or short term. The capital gain can be adjusted from capital loss to arrive at a net capital gain. The amount of gains and the exemption has to be reported in the tax return filed in the financial year in which the asset was transferred. The tax return can be filed quarterly, monthly, semi-annually or annually.