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Goods costing 100000 , invoice price 120000 ,sent to consignee,goods sold by consignee 96000 at invoice price . consignee entitled to a commission 5%at cost price of sale made and 10 �ditinal commision of difference of invoice and cost price.calculate the amount of commission.?
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Goods costing 100000 , invoice price 120000 ,sent to consignee,goods s...
Calculation of Commission for Consignee

Given:

  • Cost of goods: 100000

  • Invoice price: 120000

  • Sales price: 96000

  • Commission rate at cost price: 5%

  • Additional commission rate: 10%



Calculation:

1. Calculate the cost price of the goods for the consignee:

  • Cost price = Cost of goods + (Cost of goods x Profit%)

  • Profit% = (Invoice price - Cost of goods) / Cost of goods x 100

  • Profit% = (120000 - 100000) / 100000 x 100 = 20%

  • Cost price = 100000 + (100000 x 20%) = 120000



2. Calculate the total sale value for the consignee:

  • Total sale value = Sales price x Quantity sold

  • Quantity sold = Sales value / Invoice price

  • Quantity sold = 96000 / 120000 = 0.8

  • Total sale value = 96000 x 0.8 = 76800



3. Calculate the commission earned by the consignee:

  • Commission at cost price = Total sale value x Commission rate at cost price

  • Commission at cost price = 76800 x 5% = 3840

  • Commission on difference between invoice price and cost price = (Invoice price - Cost price) x Quantity sold x Additional commission rate

  • Commission on difference between invoice price and cost price = (120000 - 100000) x 0.8 x 10% = 1600

  • Total commission earned by the consignee = Commission at cost price + Commission on difference between invoice price and cost price

  • Total commission earned by the consignee = 3840 + 1600 = 5440



Answer: The consignee earned a commission of 5440.
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Goods costing 100000 , invoice price 120000 ,sent to consignee,goods sold by consignee 96000 at invoice price . consignee entitled to a commission 5%at cost price of sale made and 10 �ditinal commision of difference of invoice and cost price.calculate the amount of commission.?
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Goods costing 100000 , invoice price 120000 ,sent to consignee,goods sold by consignee 96000 at invoice price . consignee entitled to a commission 5%at cost price of sale made and 10 �ditinal commision of difference of invoice and cost price.calculate the amount of commission.? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Goods costing 100000 , invoice price 120000 ,sent to consignee,goods sold by consignee 96000 at invoice price . consignee entitled to a commission 5%at cost price of sale made and 10 �ditinal commision of difference of invoice and cost price.calculate the amount of commission.? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Goods costing 100000 , invoice price 120000 ,sent to consignee,goods sold by consignee 96000 at invoice price . consignee entitled to a commission 5%at cost price of sale made and 10 �ditinal commision of difference of invoice and cost price.calculate the amount of commission.?.
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