Question

X sent Y 10 machines each cost RS.4000 and spent the following amounts towards the consignment.
Freight RS.2000; insurance RS.500; carriage RS.300.
Y Paid the following expenses:
Duty RS.1400; Entry tax RS.400; Godown rent RS.1000; salary , other administration expensive RS. 1,500. end of the year Y report that he has sold only 8 of the machines for RS.47000. you are required to arrive value of closing stock in consignment.

Answer 1

proportionate expenses of x = 2500*2/10.
proportionate expenses of y = 1800*2/10.

Answer 2

Consignment Stock       8920

Explanation:

Valuation of Unsold Stock can be calculated by following way

1. find balance unit of unsold stock and multiply it with each Quantity Rate

2.  Add: Propertionate Direct expenses of Consignor

3. Add:  Propertionate Direct expenses of Consignee

                             Valuation of Unsold Stock

                   2 Machines @ Rs. 4000 =                                   8000

       Add: Propertionate Direct expenses of                

                Consignor

         Expenses on 10 Machines=2800

         Expenses on 2 Machines = $\frac{2800}{10}$ x 2                              560

   

Add: Propertionate expenses of

                Consignee

         Expenses on 10 Machines=1800

         Expenses on 2 Machines = $\frac{1800}{10}$ x 2                               360

                                                                                             _________

                                                           Consignment Stock       8920

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