At the beginning of the year, Oakmont Company bought three used machines from American Manufacturing, Inc. The machines immediately were overhauled, were installed, and started operating. Because the machines were different, each was recorded separately in the accounts.

	Machine A			Machine B			Machine C
Amount paid for asset	$	21,500		$	12,000		$	11,700
Installation costs		1,250			600			500
Renovation costs prior to use		1,050			300			1,000
Repairs after production began		520			2,800			880

By the end of the first year, each machine had been operating 4,000 hours.

Required:
1.	Compute the cost of each machine.

2.	Prepare the journal entry to record depreciation expense at the end of year 1, assuming the following: (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.)

	Estimates
Machine	Life	Residual Value				Depreciation Method
A	5 years		$	1,800		Straight-line
B	20,000 hours			1,700		Units-of-production
C	10 years			1,700		Double-declining-balance