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Exercise 8-1 Cost of plant assets LO C1 Rizio Co. purchases a machine for $13,200, terms 2/10, n/60, FOB shipping point. Rizio paid within the discount period and took the $264 discount. Transportation costs of $298 were paid by Rizio. The machine required mounting and power connections costing $913 Another $430 is paid to assemble the machine and $40 of materials are used to get it into operation. During installation, the machine was damaged and $200 worth of repairs were made. Complete the below table to calculate the cost recorded for this machine. Invoice price of machine Net purchase price Total cost to be recorded Requirea Information Use the following information for the Exercises below. [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 $87,000. The machine's useful life is estimated at 20 years, or 395,000 units of product, with a $8,000 salvage value. During its second year, the machine produces 33,500 units of product. Exercise 8-5 Units-of-production depreciation LO P1 Determine the machine's second-year depreciation using the units-of-production method. Units-of-production Depreciation Choose Numerator: I Choose Denominator: Annual Depreciation Expense - - = Depreciation expense per unit Year Annual Production (units) Depreciation Expense 2Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below] NewTech purchases computer equipment for $274,000 to use in operating activities for the next four years. It estimates the equipment's salvage value at $24,000. Exercise 8-7 Straight-line depreciation LO P1 Prepare a table showing depreciation and book value for each of the four years assuming straight-line depreciation. Depreciation expense Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below. ] NewTech purchases computer equipment for $274,000 to use in operating activities for the next four years. It estimates the equipment's salvage value at $24,000. Exercise 8-8 Double-declining-balance depreciation LO P1 Prepare a table showing depreciation and book value for each of the four years assuming double-declining-balance depreciation. (Enter all amounts positive values.)