Tutor Corp. uses different kinds of machines in its manufacturing process. The following information relates to the acquisition of machines that it has recorded in 2021. · Cash paid for equipment- P250,000 · Cost of transporting machine - insurance and transport- P9,000 · Labor cost of installation by expert fitter- P15,000 · Labor cost of testing equipment- P12,000 · Insurance cost for 2021- P4,500 · Cost of training for personnel who will use the machine- P7,500 · Cost of safety rails and platforms surrounding machine- P18,000 · Cost of water devices to keep machine cool- P24,000 · Cost of adjustments to machine during 2021 to make it operate more efficiently- P22,500 What is the cost of the machine?
Tutor Corp. uses different kinds of machines in its manufacturing process. The following information relates to the acquisition of machines that it has recorded in 2021.
· Cash paid for equipment- P250,000
· Cost of transporting machine - insurance and transport- P9,000
· Labor cost of installation by expert fitter- P15,000
· Labor cost of testing equipment- P12,000
· Insurance cost for 2021- P4,500
· Cost of training for personnel who will use the machine- P7,500
· Cost of safety rails and platforms surrounding machine- P18,000
· Cost of water devices to keep machine cool- P24,000
· Cost of adjustments to machine during 2021 to make it operate more efficiently- P22,500
What is the cost of the machine?
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