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1 December, 15:56

Bonita Industries purchased equipment for $46400. Sales tax on the purchase was $2784. Other costs incurred were freight charges of $696, repairs of $406 for damage during installation, and installation costs of $774. What is the cost of the equipment

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  1. 1 December, 16:09
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    Cost Of the Equipment = $ 51,060

    Explanation:

    Equipment = $46400.

    Add

    Sale tax = $ 2784

    Freight charges $696

    Repairs $406

    Installation costs $774

    Cost Of the Equipment = $ 51,060

    The cost of equipment includes all charges that makes it ready for use. These maybe the installation charges the sales tax paid, freight charges any repairs on damage during installation.

    All costs incurred to make the equipment operational are included in the cost of the machinery.
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