Question
Below I've attached a problem that I'm having a difficult time figuring out. I've completed parts A,B, and C, but I need help figuring out
Below I've attached a problem that I'm having a difficult time figuring out. I've completed parts A,B, and C, but I need help figuring out parts D and E. Any help is very much appreciated.
Marigold Company purchased equipment for $323,000 on October 1, 2020. It is estimated that the equipment will have a useful life of 8 years and a salvage value of $43,000. Estimated production is 20,000 units and estimated working hours 10,000. During 2020, Marigold uses the equipment for 830 hours and the equipment produces 1,500 units. Compute depreciation expense under each of the following methods. Marigold is on a calendar-year basis ending December 31. (Round rate per hour and rate per unit to 2 decimal places, e.g. 5.35 and final answers to 0 decimal places, e.g. 45,892.)
(a) | Straight-line method for 2020 | $enter a dollar amount | ||
---|---|---|---|---|
(b) | Activity method (units of output) for 2020 | $enter a dollar amount | ||
(c) | Activity method (working hours) for 2020 | $enter a dollar amount | ||
(d) | Sum-of-the-years'-digits method for 2022 | $enter a dollar amount | ||
(e) | Double-declining-balance method for 2021 | $enter a dollar amount |
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