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On 1st September, 2013 goods which cost X 33,000 were consigned by him to agent Y at a pro forma invoice price which was 20% over cost. X paid insurance and freight charges amounting to 1,250. Y was allowed 3,000 per annum towa establishment cost, 5% commission on gross sales and 3% del credere commissio landing charge He was also allowed 5% extra commission on the profit on such consignment se after charging such commission.?
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On 1st September, 2013 goods which cost X 33,000 were consigned by him...
Calculation of Pro Forma Invoice Price
- On 1st September 2013, goods costing X 33,000 were consigned by X to agent Y
- Y was given a pro forma invoice price which was 20% over cost
- Therefore, the pro forma invoice price was 33,000 + (20% of 33,000) = X 39,600

Calculation of Insurance and Freight Charges
- X paid insurance and freight charges amounting to 1,250

Y's Allowances and Commissions
- Y was allowed X 3,000 per annum towards establishment cost
- Y was allowed a 5% commission on gross sales
- Y was allowed a 3% del credere commission landing charge
- Y was also allowed a 5% extra commission on the profit on such consignment

Calculation of Y's Earnings
- Gross sales = pro forma invoice price = X 39,600
- Therefore, Y's commission on gross sales = 5% of 39,600 = X 1,980
- Del credere commission landing charge = 3% of 39,600 = X 1,188
- Y's total allowances = 3,000 + 1,980 + 1,188 = X 6,168
- Total cost incurred by X = 33,000 + 1,250 = X 34,250
- Profit made by X = pro forma invoice price - total cost incurred = 39,600 - 34,250 = X 5,350
- Y's commission on profit = 5% of 5,350 = X 267.50
- Y's total earnings = allowances + commission on gross sales + del credere commission + commission on profit = 6,168 + 1,980 + 1,188 + 267.50 = X 9,603.50

Conclusion
- Agent Y earned X 9,603.50 from the consignment
- X incurred a total cost of X 34,250 and made a profit of X 5,350.
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On 1st September, 2013 goods which cost X 33,000 were consigned by him...
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On 1st September, 2013 goods which cost X 33,000 were consigned by him to agent Y at a pro forma invoice price which was 20% over cost. X paid insurance and freight charges amounting to 1,250. Y was allowed 3,000 per annum towa establishment cost, 5% commission on gross sales and 3% del credere commissio landing charge He was also allowed 5% extra commission on the profit on such consignment se after charging such commission.?
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On 1st September, 2013 goods which cost X 33,000 were consigned by him to agent Y at a pro forma invoice price which was 20% over cost. X paid insurance and freight charges amounting to 1,250. Y was allowed 3,000 per annum towa establishment cost, 5% commission on gross sales and 3% del credere commissio landing charge He was also allowed 5% extra commission on the profit on such consignment se after charging such commission.? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about On 1st September, 2013 goods which cost X 33,000 were consigned by him to agent Y at a pro forma invoice price which was 20% over cost. X paid insurance and freight charges amounting to 1,250. Y was allowed 3,000 per annum towa establishment cost, 5% commission on gross sales and 3% del credere commissio landing charge He was also allowed 5% extra commission on the profit on such consignment se after charging such commission.? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for On 1st September, 2013 goods which cost X 33,000 were consigned by him to agent Y at a pro forma invoice price which was 20% over cost. X paid insurance and freight charges amounting to 1,250. Y was allowed 3,000 per annum towa establishment cost, 5% commission on gross sales and 3% del credere commissio landing charge He was also allowed 5% extra commission on the profit on such consignment se after charging such commission.?.
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