Please answer the "Required 1" showing the apportionment of cost, cost of each machine, depreciation or amortization expense, journal entry, and journal entries for each machine: Compute the cost of each machine by making a supportable allocation of the total cost to the three machines (round your calculations to two decimal places). Explain the rationale for the allocation basis used.

2. What was the carrying amount of the building on December 31, 2018? 3. Explain the effect of depreciation on cash flows. e APS L08-2,8-3 Computing a Basket Purchase Allocation. and Recording Depreciationum Alternative Methods (P8-4) and Recording Depreciation under Three At the beginning of the year, Labinski Inc, bought three used machines from Santore a total cash price of $62,000. Transportation costs on the machines were $3,000. The u machines from Santoro Corporation for immediately overhauled and installed, and started operating. The machines were LUSS on the machines were $3,000. The machines were each had to be recorded separately in the accounts. An appraiser was requested to erating. The machines were different; therefore, market value at the date of purchase (prior to the overhaul and installation). The car An appraiser was requested to estimate their shown on Santoro's books are also available. The carrying amounts, appraisal re e overhaul and installation). The carrying amounts costs, and renovation expenditures follow: The carrying amounts, appraisal results, installation Machine A Machine B Machine C Carrying amount on Santoro's books $10,500 $28,000 $26,000 Appraisal value 11,500 32,000 28,500 Installation costs 800 1,100 1,100 Renovation costs prior to use 600 1,400 1,600 By the end of the first year, each machine had been operating 7,000 hours. Required: 1. Compute the cost of each machine by making a supportable allocation of the total cost to the three machines (round your calculations to two decimal places). Explain the rationale for the allocation basis used. 2. Prepare the entry to record depreciation expense at the end of year 1, assuming the following: Estimates Machine Life Residual Value Depreciation Method 4 years $1,000 Straight line 35,000 hours 2,000 Units of production Double declining balance 5 years 1,500 8-1,8-3 AP8-4 Inferring Depreciation Amounts and Determining the Effects of a Depreciation Error on