Cost of a Self-Constructed Asset The company constructed its own building. The cost of materials...
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Accounting
Cost of a Self-Constructed Asset
The company constructed its own building. The cost of materials was $400,000. Labor cost incurred on the construction project was $600,000. Total overhead cost for the company for the year was $8,000,000; total labor cost (including the cost of construction) was $4,000,000. Interest incurred to finance the construction cost was $140,000.
Compute the total cost of the building.
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