Home Corp. acquired an industrial-scale 3D printer in the year. The following costs were incurred related to the 3D printer:
3D printer
$179,000
Freight and insurance in transit
2,690
Installation and testing labour costs (using Home’s own labour)
5,010
Materials cost for testing
1,900
Insurance premium on the printer for its first year of operation
2,245
Consultant used in acquisition of the printer
1,220
Lost revenue due to downtime during installation of the printer
12,450
Estimated current value of decommissioning costs for the printer
500
Home reports using IFRS.
Which one of the following is the total cost for the printer?
Question 13 options:
a)
$189,100
b)
$190,320
c)
$192,565
d)
$202,770