During 2020, Cullumber Corporation constructed and manufactured certain assets and incurred the following interest costs in...
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During 2020, Cullumber Corporation constructed and manufactured certain assets and incurred the following interest costs in connection with those activities. Interest Costs Incurred Warehouse constructed for Cullumber's own use $30,840 Special-order machine for sale to unrelated customer, produced according to customer's specifications 8,650 Inventories routinely manufactured, produced on a repetitive basis 7,360 All of these assets required an extended period of time for completion. Assuming the effect of interest capitalization is material, what is the total amount of interest costs to be capitalized? The total amount of interest costs to be capitalized During 2020, Cullumber Corporation constructed and manufactured certain assets and incurred the following interest costs in connection with those activities. Interest Costs Incurred Warehouse constructed for Cullumber's own use $30,840 Special-order machine for sale to unrelated customer, produced according to customer's specifications 8,650 Inventories routinely manufactured, produced on a repetitive basis 7,360 All of these assets required an extended period of time for completion. Assuming the effect of interest capitalization is material, what is the total amount of interest costs to be capitalized? The total amount of interest costs to be capitalized
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Related Book For
Fundamental Managerial Accounting Concepts
ISBN: 978-0078025655
7th edition
Authors: Thomas Edmonds, Christopher Edmonds, Bor-Yi Tsay, Philip Old
Posted Date:
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