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Jet001 [13]
3 years ago
8

A company purchased a commercial dishwasher by paying cash of $5,000. The dishwasher's fair value on the date of the purchase wa

s $5,600. The company incurred $400 in transportation costs, $300 installation fees, and paid a $200 fine for illegal parking while the dishwasher was being delivered. For what amount will the company record the dishwasher?
Business
1 answer:
Fed [463]3 years ago
7 0

Answer:

$5,700

Explanation:

Purchased of a commercial dishwasher + Incurred transportation costs+ Installation fees= Total recorded amounts

$5,000 + $400 + $300 = $5,700.

Therefore the amount that the company will record the dishwasher is $5,700 because the parking ticket should be expensed as incurred due to the fact that it is not a cost necessary to get the asset ready for use.

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2 years ago
The standard factory overhead rate is $7.50 per machine hour ($6.20 for variable factory overhead and $1.30 for fixed factory ov
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