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Munnabhai of Surat consigned 100 packets of medicine, each costing ` 500, to his agent Mamu of Mumbai. He paid ` 1,000 towards freight and insurance. 10 packets were destroyed in transit. The consignee took delivery of the remaining packets and spent ` 500 as godown rent, ` 2,000 as clearing charges, and ` 500 as selling expenses. The consignee sold 70 packets @ ` 600 each. You are required to calculate the cost of goods destroyed in transit and cost of goods in hand.?
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Munnabhai of Surat consigned 100 packets of medicine, each costing ` 5...
Calculation of Cost of Goods Destroyed in Transit and Cost of Goods in Hand

Given Information:
- Number of packets consigned: 100
- Cost of each packet: `500
- Freight and insurance paid: `1,000
- Number of packets destroyed: 10
- Godown rent: `500
- Clearing charges: `2,000
- Selling expenses: `500
- Selling price of each packet: `600

Calculation of Cost of Goods Destroyed in Transit:
- Total cost of all packets: 100 x `500 = `50,000
- Cost of 10 destroyed packets: 10 x `500 = `5,000
- Therefore, the cost of goods destroyed in transit is `5,000.

Calculation of Cost of Goods in Hand:
- The consignee sold 70 packets at `600 each, which means he earned 70 x `600 = `42,000.
- Deducting expenses from the income: `42,000 - (`500 + `2,000 + `500) = `39,000
- Cost of 30 packets in hand: 30 x `500 = `15,000
- Therefore, the cost of goods in hand is `15,000.

Conclusion:
- The cost of goods destroyed in transit is `5,000.
- The cost of goods in hand is `15,000.
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Munnabhai of Surat consigned 100 packets of medicine, each costing ` 500, to his agent Mamu of Mumbai. He paid ` 1,000 towards freight and insurance. 10 packets were destroyed in transit. The consignee took delivery of the remaining packets and spent ` 500 as godown rent, ` 2,000 as clearing charges, and ` 500 as selling expenses. The consignee sold 70 packets @ ` 600 each. You are required to calculate the cost of goods destroyed in transit and cost of goods in hand.?
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Munnabhai of Surat consigned 100 packets of medicine, each costing ` 500, to his agent Mamu of Mumbai. He paid ` 1,000 towards freight and insurance. 10 packets were destroyed in transit. The consignee took delivery of the remaining packets and spent ` 500 as godown rent, ` 2,000 as clearing charges, and ` 500 as selling expenses. The consignee sold 70 packets @ ` 600 each. You are required to calculate the cost of goods destroyed in transit and cost of goods in hand.? 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 Munnabhai of Surat consigned 100 packets of medicine, each costing ` 500, to his agent Mamu of Mumbai. He paid ` 1,000 towards freight and insurance. 10 packets were destroyed in transit. The consignee took delivery of the remaining packets and spent ` 500 as godown rent, ` 2,000 as clearing charges, and ` 500 as selling expenses. The consignee sold 70 packets @ ` 600 each. You are required to calculate the cost of goods destroyed in transit and cost of goods in hand.? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Munnabhai of Surat consigned 100 packets of medicine, each costing ` 500, to his agent Mamu of Mumbai. He paid ` 1,000 towards freight and insurance. 10 packets were destroyed in transit. The consignee took delivery of the remaining packets and spent ` 500 as godown rent, ` 2,000 as clearing charges, and ` 500 as selling expenses. The consignee sold 70 packets @ ` 600 each. You are required to calculate the cost of goods destroyed in transit and cost of goods in hand.?.
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