At the beginning of the year, Chemical Control Corporation bought three used mac

Question

At the beginning of the year, Chemical Control Corporation bought three used machines from Radial Compression Incorporated. The machines immediately were overhauled, installed, and started operating. Because the machines were different, each was recorded separately in the accounts. Machine A Machine B Machine C Cost of the asset $ 10,700 $ 31,500 $ 23,500 Installation costs 760 1,700 1,200 Renovation costs prior to use 580 11,200 1,640 Repairs after production began 230 470 200 By the end of the first year, each machine had been operating 6,000 hours. (a) Compute the cost of each machine.

Explanation / Answer

Cost of Each Machine = Purch Price + Inst Cost + Renovation cost SO Mach A = 10700+760+580 = $12,040 Mac B = 31500+1700+11200 = 44,400 Mac C = 23500 + 1200+ 1640 = $26,340

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