Question

• If net profit is 20000, wages 2000,
Salary 4000; carriage inward 5000 find
out Gross Profit​

Answer 1

Given  :  net profit is 20000,

wages 2000, Salary 4000 ;   carriage inward 5000

To find  : Gross Profit  

A.31000

B.26000

C. 25000

D.24000​

Solution:

Gross profit  is after subtracting   the costs of producing and distributing its products from Sales ( revenue )

carriage inward cost is part of inventory cost  hence already been considered while calculating cost .

Wages is related to direct labour cost (  based on labour hour ) hence has been considered in calculating gross profit

so here Difference between gross profit and net profit is  SALARY

Net Profit  = Gross Profit  - Salary

=> 20000  =  Gross Profit  -  4000

=> Gross Profit = 24000  

Hence Gross Profit is  24000  

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