On January 1, the Matthews Band pays $66,600 for sound equipment. The band estimates it will use this equipment for five years and perform 200 concerts. It estimates that after five years it can sell the equipment for $2,000. During the first year, the band performs 55 concerts. Compute the first-year depreciation using the units-of-production method. Select formula for the depreciation rate of Units of Production: Calculate the first year depreciation expense: Depreciation per concert Concerts in first year Depreciation in first year Rizio Co. purchases a machine for $11,800, terms 1/10, V60, FOB shipping point. Rizio paid within the discount period and took the $118 discount. Transportation costs of $267 were paid by Rizio. The machine required mounting and power connections costing $816. Another $385 is paid to assemble the machine and $40 of materials are used to get it into operation. During installation, the machine was damaged and $360 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 Not purchase price Total cost to be recorded