Cost of dismantling and removing the old machine$7,500$Cost of material to construct the machine$90,000$Labour cost$25,000$Allocated overhead cost$15,000$Allocated financing costs which to be capitalised$10,500$Cost of installation$8,000$Takaful coverage for year $20245,600$Profit saved by self construction$20,000$Safety inspection costs prior to use$5,000$Administration and other general overhead costs$24,000$Employee training cost after the installation$8,000$On $1$ March $2022,$ Emerald Bhd constructed a machine for its business operation. The construction phase for the machine was completed on $15$ October $2022$ and a trial run was successfully conducted on $20$ October $2022.$The machine begin its operation on $5$ Jan $2023.$ Followings are the information related to the costs involved in construction the machine.REQUIRED:Compute the cost of the machine.$(8$ marks$)($c$)$Assume on $1$ Jan $2023,$ Esmerelda Sd Bhd purchase a property which constitute of land, building and furniture at a total cost of RM$2,400,000.$ To separately allocate the cost of each asset, the company determines that the fair values of these assets are as follows:AssetFair Value$($RM$)$Land$320,000$Building$1,600,000$Fixtures and fitting$640,000$Total$2,560,000$REQUIRED:.Determine the allocated cost for each asset.$(6$ marks$)$ii$.$ Prepare the journal entries to record the purchase.