Exercise 8-1 (Algo) Cost of plant assets LO C1 Rizio Company purchases a machine for $10,100, terms 2/10, n/60, FOB shipping point. Rizio paid within the discount period and took the $202 discount. Transportation costs of $228 were paid by Rizio. The machine required mounting and power connections costing $698. Another $329 is paid to assemble the machine, and $40 of materials are used to get it into operation. During installation, the machine was damaged and $235 worth of repairs were made. Complete the below table to calculate the cost recorded for this machine. Amount Included in Cost of Equipment: Invoice price of machine Net purchase price Total cost to be recorded Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $85,400. The machine's useful life is estimated at 20 years, or 402,000 units of product, with a $5,000 salvage value. During its second year, the machine produces 34,200 units of product. Exercise 8-4 (Algo) Straight-line depreciation LO P1 Determine the machine's second-year depreciation and year end book value under the straight-line method. Straight-Line Depreciation Choose Numerator: 1 Choose Denominator: Annual Depreciation Expense = Depreciation expense Year 2 Depreciation Year end book value (Year 2)