Reference no: EM132758298
Question - Mandy Manufacturing purchased a machine on August 1, 2019, and it was installed and ready to run on January 1, 2020. The following costs were incurred in the purchase and installation of the machine.
Invoice Price: $1,400,000
Freight costs: 8,000
Purchase discount: 3,000
Installation costs: 68,000
Electrical and power connections: 33,000
Repairs to correct damage incurred during uncrating: 13,000
Adjustments costs: 46,000
Spare parts for future use: 26,000
Provincial sales tax: 84,000
Fines incurred during the transport and uploading of the machine: 100
Cost of special foundation for the machine: 7,000
Required - Calculate the depreciable cost of the machine.
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