E7-30B. (Learning Objectives 1, 2: Allocating costs to assets acquired in a lump-sum purchase; disposing of a PPE) Clintwood Manufacturing bought three used machines in a

€226,000 lump-sum purchase. An independent appraiser valued the machines as shown in the table.

What is each machine’s individual cost? Immediately after making this purchase, Clintwood sold machine 2 for its appraised value. What is the result of the sale? (Round decimals to three places when calculating proportions, and use your computed percentages throughout.)

Transcribed Image Text:

Machine No. 1 123 2 3 Appraised Value 84,000 127,200 28,800