Thefollowingcostswereincurred 1invoicepriceofmachine

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Unformatted text preview: mple Q: Smith Ltd purchased a large machine to use in its operations. The following costs were incurred: • • • • • • • 1. Invoice price of machine $85 000 2. Transportation costs $1 900 3. Architect’s fees: advised company on the best position for the machine within the factory $1 500 4. Wages for our employees assisted in installing the machine $1 400 5. Professional electricians (not our employees) who installed the machine $4 200 6. Damage to existing machines by small fire caused by our employees who incorrectly changed some wires $9 200 7. Cost to demolish and...
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