Reference no: EM132944978
Question - Orange Company uses many kinds of machines in its operations. The company constructs some of these machines itself and acquires others from the manufacturers. The following information relates to a machine that was acquired on January 1, 2013:
Cash paid for machine, including VAT of P96,000 896,000
Cost of transporting machine 30,000
Labor cost of installation by expert fitter 50,000
Labor of testing machine 40,000
Insurance cost for 2013 15,000
Cost of training for personnel who will use the machine 25,000
Cost of safety rails and platform surrounding machine 60,000
Cost of water device to keep machine cool 80,000
Cost of adjustment to machine to make it operate more efficiently 75,000
Required - What is the total cost of the machine?
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