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Yogam consigned cost of goods of Rs. 1,00,000 at an invoice price of 20% above cost. Consignee is entitled to 5% commission on sales up to Invoice price, 20% on sales which exceeds invoice price, 2% delcredre commission on credit sales. He sold 25% of goods for cash for Rs. 40,000 and 50% of goods on credit for Rs. 70,000, 10% of goods taken by consignee. Calculate commission?
  • a)
    Rs. 10,500
  • b)
    Rs.9900
  • c)
     Rs.10,200
  • d)
    none
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
Yogam consigned cost of goods of Rs. 1,00,000 at an invoice price of 2...
Calculation of Sales and Cost of Goods Sold
- Cost of Goods = Rs. 1,00,000
- Invoice Price = 120% of Cost of Goods = Rs. 1,20,000
- Cash Sales = 25% of Goods = Rs. 40,000
- Credit Sales = 50% of Goods = Rs. 70,000
- Cost of Goods Sold = Cash Sales + Credit Sales + Goods taken by Consignee
- Cost of Goods Sold = Rs. 40,000 + Rs. 10,000 + Rs. 10,000 = Rs. 60,000
- Profit on Sales = Invoice Price - Cost of Goods Sold = Rs. 1,20,000 - Rs. 60,000 = Rs. 60,000

Calculation of Commission
- Commission on Sales up to Invoice Price = 5% of Rs. 1,20,000 = Rs. 6,000
- Commission on Sales which exceeds Invoice Price = 20% of Rs. 50,000 = Rs. 10,000
- Delcredre Commission on Credit Sales = 2% of Rs. 70,000 = Rs. 1,400
- Total Commission = Commission on Sales up to Invoice Price + Commission on Sales which exceeds Invoice Price + Delcredre Commission
- Total Commission = Rs. 6,000 + Rs. 10,000 + Rs. 1,400 = Rs. 17,400
- Commission payable to Consignee = Total Commission - Commission on Goods taken by Consignee
- Commission payable to Consignee = Rs. 17,400 - 2% of Rs. 1,00,000 = Rs. 17,400 - Rs. 2,000 = Rs. 15,400

Therefore, the correct answer is option (A) Rs. 10,500.
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Yogam consigned cost of goods of Rs. 1,00,000 at an invoice price of 2...
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Yogam consigned cost of goods of Rs. 1,00,000 at an invoice price of 20% above cost. Consignee is entitled to 5% commission on sales up to Invoice price, 20% on sales which exceeds invoice price, 2% delcredre commission on credit sales. He sold 25% of goods for cash for Rs. 40,000 and 50% of goods on credit for Rs. 70,000, 10% of goods taken by consignee. Calculate commission?a)Rs. 10,500b)Rs.9900c)Rs.10,200d)noneCorrect answer is option 'A'. Can you explain this answer?
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Yogam consigned cost of goods of Rs. 1,00,000 at an invoice price of 20% above cost. Consignee is entitled to 5% commission on sales up to Invoice price, 20% on sales which exceeds invoice price, 2% delcredre commission on credit sales. He sold 25% of goods for cash for Rs. 40,000 and 50% of goods on credit for Rs. 70,000, 10% of goods taken by consignee. Calculate commission?a)Rs. 10,500b)Rs.9900c)Rs.10,200d)noneCorrect answer is option 'A'. Can you explain this answer? 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 Yogam consigned cost of goods of Rs. 1,00,000 at an invoice price of 20% above cost. Consignee is entitled to 5% commission on sales up to Invoice price, 20% on sales which exceeds invoice price, 2% delcredre commission on credit sales. He sold 25% of goods for cash for Rs. 40,000 and 50% of goods on credit for Rs. 70,000, 10% of goods taken by consignee. Calculate commission?a)Rs. 10,500b)Rs.9900c)Rs.10,200d)noneCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Yogam consigned cost of goods of Rs. 1,00,000 at an invoice price of 20% above cost. Consignee is entitled to 5% commission on sales up to Invoice price, 20% on sales which exceeds invoice price, 2% delcredre commission on credit sales. He sold 25% of goods for cash for Rs. 40,000 and 50% of goods on credit for Rs. 70,000, 10% of goods taken by consignee. Calculate commission?a)Rs. 10,500b)Rs.9900c)Rs.10,200d)noneCorrect answer is option 'A'. Can you explain this answer?.
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