SoftRock Manufacturing received a machinery invoice for $90,000. Installation cost $15,000 and freight inward $5,000. Find the amount to be capitalized.
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- Please help meNelson Company purchased equipment and incurred the following costs: Cash price = $55,000 Sales taxes = $4,400 Insurance during transit = $400 Site preparation, installation, and testing= $2,300What amount should be used as the cost basis of the equipment?Dorman company purchased a new machine for its production process. The following costs were incurred for the new machine. Training costs for workers who will operate the machine $15,000 Wages paid to workers who operate the machine during production 109,000 Ordinary repairs to the machine before the first production run 1,000 1 Cost of platform used to properly secure the machine 30,000 Costs of tests run which took place before the first production run 8,000 WHICH COSTS SHOULD BE ADDED TO THE COST OF MACHINE?
- Kegler Bowling buys scorekeeping equipment with an invoice cost of $190,000. The electrical work required for the installation costs $20,000. Additional costs are $4,000 for delivery and $13,700 for sales tax. During the installation, the equipment was damaged and the cost of repair was $1,850. What is the total recorded cost of the scorekeeping equipment?Qu Holiday Laboratories purchased a high speed industrial centrifuge at a cost of $420,000. Shipping costs totaled $15,000. Foundation work to house the centrifuge cost $8,000. An additional water line had to be run to the equipment at a cost of $3,000. Labor and testing costs totaled $6,000. Materials used up in testing cost $3,000. The capitalized cost is: FinFoster has built a new factory incurring the following costs: Land GH₵1,200,000 Materials GH₵2,400,000 Labour GH₵3,000,000 Architect's fees GH₵25,000 Surveyor's fees GH₵15,000 Site overheads GH₵300,000 Apportioned administrative overheads GH₵150,000 Testing of fire alarms GH₵10,000 Business rates for first year GH₵12, 000. What will be the total amount capitalised in respect of the factory?
- GadubhaiTumeng Co. acquired a piece of equipment for 1,000,000 and incurred the following additional costs: Brokers Commission 50,000 Freight cost 35,000 Freight Insurance 5,000 Installation costs 250,000 Calibration and testing costs 20,000 Training cost of the machine operators 15,000 General and administrative costs 6,000 The samples generated from testing the equipment were sold for 2,000. Requirements: Compute for the initial cost of the equipmentDenger
- Martini Company incurred the following costs in purchasing a land as a factory site:Purchase price 2,400,000Cost of tearing down old building 240,000Legal fee for title investigation 15,000Title insurance 10,000 Architect fee 125,000Liability insurance during construction 25,000Excavation cost 40,000Payment to building contractor 8,800,000Special assessment by city for public improvement 30,000Interest cost during construction 300,000 What is the cost of the building?A company purchases a 7,920-square-foot building for $410,000. The building has two separate rental units. Unit A, which has the desirable location on the corner and contains 1,620 square feet, will be rented for $2.00 per square foot. Unit B contains 6,300 square feet and will be rented for $1.20 per square foot. How much of the joint cost should be allocated to Unit A and to Unit B using the value basis of allocation?A company purchases a 20,040-square-foot building for $750,000. The building has two separate rental units. Unit A, which has the desirable location on the corner and contains 6,680 square feet, will be rented for $2.00 per square foot. Unit B contains 13,360 square feet and will be rented for $1.50 per square foot. Compute the amount of joint cost that should be allocated to Unit B using the value basis of allocation: Multiple Choice $300,000 $487,500 $500,000 $600,000. $450,000