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Cpt (accounts problem )

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naeem shaikh

ipcc student

75 Points Posted on 01 December 2012

CONSIGNMENT

COST OF GOODS 2,00,000

SOLD 3/5 FOR 1,40,000

COMM. 2% ON SALES + 20 OF GROSS SLAES LESS ALL COMM. EXCEEDS COST PRICE

THE AMOUNT OF COMMISSION (PLEASE CLARFY ANS.)

a 5667

B 5800

C 6000

D 5600

Replies (3)

Deepak Gupta

CA Student

8353 Points Posted on 01 December 2012

Originally posted by : naeem shaikh
	CONSIGNMENT COST OF GOODS 2,00,000 SOLD 3/5 FOR 1,40,000 COMM. 2% ON SALES + 20 OF GROSS SLAES LESS ALL COMM. EXCEEDS COST PRICE THE AMOUNT OF COMMISSION (PLEASE CLARFY ANS.) a 5667(ANS) B 5800 C 6000 D 5600

Normal Commission = 2% of sales = 140000*2% = 2800

Special Commission = 20% (Gross Sales – Cost of Goods Sold – All Commission)

Let us assume special commission to be x

So, x = 20% [140000-(3/5*200000)-2800-x]

or, x = 0.2 (140000-120000-2800-x)

or, x = 28000-24000-560-0.2x

or, 1.2x = 3440

or, x = 3440/1.2 = 2867

Total Commission = 2800+2867 = 5667

Shubham kumar

242 Points Posted on 01 December 2012

Commission on sale=1,40,000X2%. . =Rs.2800. extra commission=(1,40,000-1,20,000-2800)X20/120 comes Rs.2866.67 .. ... so,total commission comes Rs.(2800+2867)=5667.