Question: How to solve this problem? 10. A company purchased a special purpose machine on September 15 of the past year, and it was installed and
How to solve this problem?
10. A company purchased a special purpose machine on September 15 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. Determine the total cost of the machine. Invoice price plus sales tax $1,270,500 Freight costs 9,000 Setup costs 51,000 Costs to adjust machine to 36,000 appropriate specifications Electrical connections 32,000 Maintenance supplies for future use 108,000 Traffic fine incurred during transport 300 of machine Cost of special foundation for 18,500 machine
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