ABC Manufacturing Corp. consigned 10 refrigerators to XYZ Sales Company. These refrigerators had a cost of P180,000 each. Freight on the shipment was paid by QWE in the amount of P120,000. XYZ Sales Company submitted an account sales stating that it had sold 6 refrigerators and remitted the P1,365,000 balance due QWE after the following deductions from the selling price of the refrigerators: Commission (based on selling price)……………………………………… 15% Marketing expenses………………………………………………………….. P 90 Delivery and installation of items sold……………………………………. 60 Cartage cost paid upon receipt of consignment…………………….. 15 The consignor’s net profit from the sale of the consigned goods was?
ABC Manufacturing Corp. consigned 10 refrigerators to XYZ Sales Company. These refrigerators had a cost of P180,000 each. Freight on the shipment was paid by QWE in the amount of P120,000.
XYZ Sales Company submitted an account sales stating that it had sold 6 refrigerators and remitted the P1,365,000 balance due QWE after the following deductions from the selling price of the refrigerators:
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Commission (based on selling price)……………………………………… 15% |
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Marketing expenses………………………………………………………….. P 90 |
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Delivery and installation of items sold……………………………………. 60 |
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Cartage cost paid upon receipt of consignment…………………….. 15 |
The consignor’s net profit from the sale of the consigned goods was?
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