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Determine the cost of the Shoe Manufacturing Machine based on the listed costs below: He wants help assessing which costs he can capitalize into
Determine the cost of the Shoe Manufacturing Machine based on the listed costs below: He wants help assessing which costs he can capitalize into the cost of the asset based on the list below: Costs of Shoe Manufacturing Machine: Machine purchase price: $ 500,000.00 Shipping costs = $ 15,000.00 Installation fees = $ 7,500.00 Legal fees for purchase = $ 1,500.00 Whale watching fees in Finland = $ 100.00 Estimated value of Machine as Scrap metal at end of life = $ 10,000.00 Repairs and maintenance costs in year 1 of use = $ 3,500.00
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