Answer
Calculation of the cost recorded for the machine
Purchase price | $ 13800 |
Freight charges | 312 |
Special Steel mounting and power costing | 954 |
Amount paid for assemble of machine | 450 |
Raw material used for satisfy productio | 40 |
Damage cost | 365 |
total cost to be recorded | $ 15921 |
Wapking note
1.amount paid for a symbol of machine it is a part of cost of machine because that any expenses related to assemble of asset it is a part of cost of machine
2. Any testing expenses related are included in the cost of asset.
Rizio Co purchases a machine for $13,800, terms 1/10. n/60, FOB shipping point. The seller prepaid...
Rizio Co. purchases a machine for $14,300, terms 1/10, n/60, FOB shipping point. The seller prepaid the $323 freight charges, adding the amount to the invoice and bringing its total to $14,623. The machine requires special steel mounting and power connections costing $989. Another $466 is paid to assemble the machine and get it into operation. In moving the machine to its steel mounting, $350 in damages occurred. Materials costing $40 are used in adjusting the machine to produce a...
Rizio Co. purchases a machine for $9,800, terms 1/10, n/60, FOB shipping point. The seller prepaid the $221 freight charges, adding the amount to the invoice and bringing its total to $10,021. The machine requires special steel mounting and power connections costing $677. Another $319 is paid to assemble the machine and get it into operation. In moving the machine to its steel mounting, $305 in damages occurred. Materials costing $40 are used in adjusting the machine to produce a...
10 Rizio Co. purchases a machine for $13,600, terms 2/10, n/60, FOB shipping point. The seller prepaid the $307 freight charges, adding the amount to the invoice and bringing its total to $13.907. The machine requires special steel mounting and power connections costing $940. Another $443 is paid to assemble the machine and get it into operation. In moving the machine to its steel mounting $260 in damages occurred. Materials costing $40 are used in adjusting the machine to produce...
Rizio Co. purchases a machine for $11,600, terms 2/10, n/60, FOB shipping point. The seller prepaid the $262 freight charges, adding the amount to the invoice and bringing its total to $11,862. The machine requires special steel mounting and power connections costing $802. Another $378 is paid to assemble the machine and get it into operation. In moving the machine to its steel mounting, $275 in damages occurred. Materials costing $40 are used in adjusting the machine to produce a...
Exercise 8-1 Cost of plant assets LO C1 Rizio Co. purchases a machine for $11,300, terms 2/10, n/60, FOB shipping point. The seller prepaid the $255 freight charges, adding the amount to the invoice and bringing its total to $11,555. The machine requires special steel mounting and power connections costing $781. Another $368 is paid to assemble the machine and get it into operation. In moving the machine to its steel mounting, $360 in damages occurred. Materials costing $40 are...
Rizio Co. purchases a machine for $13,900, terms 1/10, n/60, FOB shipping point. Rizio paid within the discount period and took the $139 discount. Transportation costs of $314 were paid by Rizio. The machine required mounting and power connections costing $961. Another $453 is paid to assemble the machine and $40 of materials are used to get it into operation. During installation, the machine was damaged and $315 worth of repairs were made points Complete the below table to calculate...
Rizio Co. purchases a machine for $10,900, terms 2/10, n/60, FOB shipping point. Rizio paid within the discount period and took the $218 discount. Transportation costs of $246 were paid by Rizio. The machine required mounting and power connections costing $754. Another $355 is paid to assemble the machine and $40 of materials are used to get it into operation. During installation, the machine was damaged and $225 worth of repairs were made. Complete the below table to calculate the...
Rizio Co. purchases a machine for $14,900, terms 2/10, n/60, FOB shipping point. Rizio paid within the discount period and took the $298 discount. Transportation costs of $337 were paid by Rizio. The machine required mounting and power connections costing $1,030. Another $486 is paid to assemble the machine and $40 of materials are used to get it into operation. During installation, the machine was damaged and $375 worth of repairs were made. Complete the below table to calculate the...
Rizio Co. purchases a machine for $11,600, terms 2/10,n/60, FOB shipping point. Rizio paid within the discount period and took the $232 discount. Transportation costs of $262 were paid by Rizio. The machine required mounting and power connections costing $802. Another $378 is paid to assemble the machine and $40 of materials are used to get it into operation. During installation, the machine was damaged and $370 worth of repairs were made. Complete the below table to calculate the cost...
Rizio Co purchases a machine for $12,500, terms 2/10,n/60, FOB shipping point. Rizio paid within the discount period and took the $250 discount. Transportation costs of $360 were paid by Rizio. The machine required mounting and power connections costing $895 Another $475 is paid to assemble the machine and $40 of materials are used to get it into operation. During installation, the machine was damaged and $180 worth of repairs were made. Complete the below table to calculate the cost...