Savithry (Student) (65 Points)
30 April 2019A of Mumbai sold goods to B of Delhi, the goods are to be sold at 125% of cost which is invoice price.commission 10% on sales at invoice price and 25%of any surplus realized above invoice price. 10%of the goods sent out on consignment ,invoice value of which is Rs 12500 were destroyed. 75%of the total consignment is sold by B at Rs 100000.what will be the amount of commission payable to B?
And ans for this question is 10937.50
Plz explain me that how to arrive at this commission...
Deepak Gupta
(CA Student)
(15922 Points)
Replied 30 April 2019
| 10% goods invoice value = 12500 | |||||
| 1% goods invoice value = 12500/10% | |||||
| 100% goods invoice value = (12500/10%)x100% = | 1,25,000.00 | ||||
| 75% of consignment is sold: | |||||
| Invoice value of 75% consignment = 125000x75% = | 93,750.00 | ||||
| Sale Price of 75% consignment | 1,00,000.00 | ||||
| Surplus above invoice price (100000-93750) | 6,250.00 | ||||
| Commission: | |||||
| A) 10% on sales at invoice price | |||||
| i.e. 93750 x 10% | 9,375.00 | ||||
| B) 25% on surplus above invoice price | |||||
| i.e. 6250 x 25% | 1,562.50 | ||||
| Total Commission | 10,937.50 | ||||
Prakash Gehani
(Consultant & Teacher(Whatsapp 8718057907))
(1306 Points)
Replied 30 April 2019
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