Which of the following is an acceptable method of estimating the historical cost of capital assets?

All of the methods listed can be used for estimating the historical cost of capital assets, making the comprehensive option the correct choice.

Direct costing involves assigning costs directly associated with the production of capital assets. This method accurately reflects the actual fixed and variable costs incurred up to the point the asset is ready for use.

Normal costing is a method that applies overhead costs based on a predetermined rate, which can be useful for estimating capital asset costs when the overhead is a significant portion of the total costs.

Standard costing, while often used for routine operations, can be applied to capital assets to calculate the expected costs based on historical data and industry standards, providing a benchmark for what the costs should be.

Using a combination of these methods allows for a more robust and reliable estimate of the historical cost of capital assets, encapsulating different aspects of the costs involved in their acquisition and preparation for use. This multifaceted approach ensures a thorough evaluation of all costs, leading to more accurate financial reporting and asset valuation.