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What is the depletion charge per ton of extracted resource

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Reference no: EM132619257

Question - Crocus Corp. acquired a tract of land in the interior containing an extractable natural resource. The company is required by the government to restore the land to a condition suitable for recreational use after it has extracted the natural resource. Geological surveys estimate that the recoverable reserves will be 4.6 million tons, and that the land will have a value of $1.2 million after restoration. Relevant cost information follows:

Land $5,700,000

Geological surveys 392,000

Estimated restoration costs 2,100,000

Required - If Crocus maintains no inventories, what is the depletion charge per ton of extracted resource?

Reference no: EM132619257

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