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Exercise 8-1 (Algo) Cost of plant assets LO C1 Rizio Company purchases a machine for $13,800, terms 1/10,n/60, FOB shipping point. Rizio paid within the
Exercise 8-1 (Algo) Cost of plant assets LO C1 Rizio Company purchases a machine for $13,800, terms 1/10,n/60, FOB shipping point. Rizio paid within the discount period and took the $138 discount. Transportation costs of $312 were paid by Rizio. The machine required mounting and power connections costing $954. Another $450 is paid to assemble the machine, and $40 of materials are used to get it into operation. During installation, the machine was damaged and $180 worth of repairs were made. Complete the below table to calculate the cost recorded for this machine. Complete the below table to calculate the cost recorded for this machine. Complete the below table to calculate the cost recorded for this machine
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