Question text

Calculating Repair and Maintenance Expense

The Camelback Cement Company made the following expenditures relating to its plant and equipment:

• Overhauled several machines at an aggregate cost of $195,000 to improve the efficiency of the equipment over its remaining useful life.
• Replaced a broken driveshaft on a forklift at a cost of $38,000.
• Completed regularly scheduled repairs at a cost of $83,000.
• Installed a foam roof on the plant over the existing, but leaking, flat-rolled roof at a cost of $220,000.

What amount should be expensed as repairs and maintenance?

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