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question exercise 18a 24 rex 39 s reclaimers entered into a contract with dan 39 s d 4280007

Question

Exercise 18A-24 Rex's Reclaimers entered into a contract with Dan's Demolition to manage the processing of recycled materials on Dan's various demoltion projects. Services for the 3-year contract include collecting, sorting, and transporting reclaimed materials to recycling centers or contractors who will reuse them. Rex's incurs sellng commiss services, Rex's also designs and builds specialty receptacles and loading equipment that interfaces with Dan's demolition equipment at a cost of $33,750. These receptacles and equipment are retained by Rexs. Dan's promises to pay a fixed fee of $15,000 per year, payable every 6 months for the services under the contract, Rex's incurs the following costs: design services for the receptacles to interface with Dan's equipment $3,750, loading equipment controllers $7,500, and special testing and osHA inspection fees $2,500 (some of Dan's projects are on government property). (a) as part of Rex's Reclamers revenue arrangement with Dan's Demolition. Determine the costs that should be capitalized b) on's also expects to incur general and administrative costs related to this contract, as wel as costs of wasted materials and labor that likely cannot be factored into the contract price. Can these costs be apitalized? click if you would like to show work for this question: open show

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