14. A company purchased a special purpose machine on August I of the past year,

Question

14. A company purchased a special purpose machine on August I of the past year, and it was installed and ready to run on January 1 of this year. The following costs were incurred in the purchase and installation of the machine. Invoice price Freight costs Installation costs. Electrical and power connections Repairs to correct damage incurred during uncrating Costs to adjust machine to appropriate specifications..... Spare parts for future use.. Sales tax .. Fines incurred during transport of machine.... Cost of special foundation required for machine installation $1,200,000 6.000 64,000 32,000 12,000 56,000 108,000 70,500 400 28.500 Detemine the total cost f her machine. Three(O) points

Explanation / Answer

Total machine cost: Invoice price $1,200,000 Freight costs $6,000 Installation costs $64,000 Electrical and power connections $32,000 Adjustment costs $56,000 Sales tax $70,500 Special foundation $28,500 Total $1,457,000

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