A Company Purchased a Special Purpose Machine on September 15

Essay

A company purchased a special purpose machine on September 15 of the past year, and it was installed and ready to run on January 1 of this year. The following costs were incurred in the purchase and installation of the machine. Determine the total cost of the machine.
$$\begin{array} { l l } \text { Invoice price plus sales tax } & \$ 1,270,500 \\\text { Freight costs } & 9,000 \\\text { Setup costs } & 51,000 \\\text { Costs to adjust machine to appropriate specifications } & 36,000 \\\text { Electrical connections } & 32,000 \\\text { Maintenance supplies for future use } & 108,000 \\\text { Traffe fine incurred during transport of machine } & 300 \\\text { Cost of special foundation for machine } & 18,500\end{array}$$