Question

The company purchased a special purpose machine

Answer 1

Answer:

1) A company purchased a special purpose machine on September 15 of the past year, and it was installed and ready to run on January 1 of this year. The following costs were incurred in the purchase and installation of the machine. Determine the total cost of the machine. Invoice price plus sales tax Freight costs Setup costs Costs to adjust machine to appropriate specifications Electrical connections Maintenance supplies for future use Traffic fine incurred during transport of machine Cost of Special Foundation for Machine $1,270,500 9,000 51,000 36,000 32,000 108,000 300 18,500 2) A company purchased a machine on January 1 of the current year for $750,000.Calculate the annual depreciation expense for each year of the machine's life (estimated at 5 years or 20,000 hours, with a salvage value of $75,000) using each of the below-mentioned methods. During the machine's 5-year life its hourly usage was: 3,000;4,000; 5,000; 5,000; and 3,000 hours. Straight-Line Units-of-Production Double-Declining Balance Year 1 Year 2 Year 3 Year 4 ear 5 Totals

Answer 2

Answer:

The company purchased a special purpose machine on September 15 on the past year, and it was installed and ready to run on January 1 of this year .

Explanation:

I think so this is your answer......