At the beginning of 2025 , Culver Company acquired a mine for $1,315,300. Of this...
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At the beginning of 2025 , Culver Company acquired a mine for $1,315,300. Of this amount, $109,000 was ascribed to the land value and the remaining portion to the minerals in the mine. Surveys conducted by geologists have indicated that approximately 11,040,000 units of ore appear to be in the mine. Culver incurred $185,300 of development costs associated with this mine prior to any extraction of minerals. It also determined that the fair value of its obligation to prepare the land for an alternative use when all of the mineral has been removed was $43,600. During 2025,2,682,000 units of ore were extracted and 2,196,000 of these units were sold. Compute the following. (a) F Your answer is incorrect. The total amount of depletion for 2025. (Round per unit answer to 2 decimal places, e.g. 0.45 for computational purpose and final answer to 0 decimal places, e.g. 45,892.) Depletion for 2025 $
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At the beginning of 2025 , Culver Company acquired a mine for $1,315,300. Of this amount, $109,000 was ascribed to the land value and the remaining portion to the minerals in the mine. Surveys conducted by geologists have indicated that approximately 11,040,000 units of ore appear to be in the mine. Culver incurred $185,300 of development costs associated with this mine prior to any extraction of minerals. It also determined that the fair value of its obligation to prepare the land for an alternative use when all of the mineral has been removed was $43,600. During 2025,2,682,000 units of ore were extracted and 2,196,000 of these units were sold. Compute the following. (a) F Your answer is incorrect. The total amount of depletion for 2025. (Round per unit answer to 2 decimal places, e.g. 0.45 for computational purpose and final answer to 0 decimal places, e.g. 45,892.) Depletion for 2025 $ 