Business, 14.05.2021 03:40, mcdonaldmacy01

Purchase Cash paid for equipment, including sales tax of $7,400 $155,400
Freight and insurance cost while in transit 2,960
Cost of moving equipment into place at factory 4,588
Wage cost for technicians to test equipment 5,920
Insurance premium paid during first year of operation on this equipment 2,220
Special plumbing fixtures required for new equipment 11,840
Repair cost incurred in first year of operations related to this equipment 1,924
Construction
Material and purchased parts (gross cost $296,000; failed to take 2% cash discount) $296,000 Imputed interest on funds used during construction (stock financing) 20,720
Labor costs 281,200 Allocated overhead costs (fixed-$29,600; variable-$44,400) 74,000
Profit on self-construction 44,400 Cost of installing equipment 6,512
Compute the total cost to be capitalized for each of these two pieces of equipment.
Purchase equipment $
Construction equipment $

Answers: 3

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Purchase Cash paid for equipment, including sales tax of $7,400 $155,400
Freight and insuran...