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At what value should Harshman capitalize the building

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Problem - Self-Construction Harshman Company constructed a building for its own use. The company incurred costs of $40,000 for materials and supplies, $68,000 for direct labor, and $7,000 for a supervisor's overtime that was caused by the construction. Harshman uses a factory overhead rate of 50% of direct labor cost. Before construction, the company had received a bid of $162,000 from an outside contractor.

Required - Assuming common practice is followed, at what value should Harshman capitalize the building?

Reference no: EM132885397

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