Granite Company purchased a machine costing $132,000, terms 1/10, n/30. The machine was shipped FOB shipping point and freight charges were $3,200. The machine requires special mounting and wiring connections costing $11,200. When installing the machine, $2,700 in damages occurred. Compute the cost recorded for this machine assuming Granite paid within the discount period.

Granite Company purchased a machine costing $132,000, terms 1/10, n/30. The machine was shipped FOB shipping point and freight charges were $3,200. The machine requires special mounting and wiring connections costing $11,200. When installing the machine, $2,700 in damages occurred.The Total cost recorded to get the ready to use:  $ 147,780

Explanation:

From the above question we get the following information

Equipment cost: 132,000 x (1 - 1%) = 130,680

shipping cost:                                        3,200

special wiring connections                 11,200

installation cost                                      2,700  

Total cost to get the machinery  ready to use:      $ 147,780

It is important to note that the  cost incurred to get the equipment ready for usage  and production must be included while calculating the equipment cost.

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

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