Lanier Corporation purchased an automatic hole-punching machine priced at $62,500. The vendor’s invoice included a sales tax of $3,263. Lanier also paid the inbound transportation charges of $725 on the new machine, as well as the labor cost of $2,150 to install the machine in the factory. In addition, Lanier had to prepare the site at a cost of $3,500 before installation. Determine the cost basis for the new machine for depreciation purposes.

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explanation:

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whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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c.

clarify customers’ doubts only when asked.