X sends outs of goods to Y costing 1,50,000 at cost plus 25% on invoic...
Calculation of Cost Price and Selling Price
To find the total commission value, we need to calculate the cost price and selling price of the goods. Given that X sent goods to Y costing 1,50,000 at cost plus 25% on invoice price. So, we can calculate the cost price as follows:
Cost Price (CP) = 1,50,000/1.25 = 1,20,000
We know that ¾ of the goods were sold at 176000. So, we can calculate the selling price as follows:
Selling Price (SP) = 176000/(3/4) = 2,34,666.67
Calculation of Commission
Commission on sales price = 5% of 176000 = 8800
Since the selling price is higher than the invoice price, we need to calculate the surplus above invoice price. The invoice price is the cost price plus 25% of the cost price, which is 1.25*120000 = 1,50,000. So, the surplus above invoice price is:
Surplus = 2,34,666.67 - 1,50,000 = 84,666.67
Commission on surplus = 10% of 84,666.67 = 8466.67
Total Commission Value = Commission on sales price + Commission on surplus = 8800 + 8466.67 = 17266.67
Therefore, the total commission value is 17266.67.
HTML Formatted Answer
Calculation of Cost Price and Selling Price
- Cost Price (CP) = 1,50,000/1.25 = 1,20,000
- Selling Price (SP) = 176000/(3/4) = 2,34,666.67
Calculation of Commission
- Commission on sales price = 5% of 176000 = 8800
- Surplus = 2,34,666.67 - 1,50,000 = 84,666.67
- Commission on surplus = 10% of 84,666.67 = 8466.67
- Total Commission Value = Commission on sales price + Commission on surplus = 8800 + 8466.67 = 17266.67
Therefore, the total commission value is 17266.67.