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Concord Company purchased equipment for $344,000 on October 1,2020 . It is estimated that the equipment will have a useful life of 8 years and
Concord Company purchased equipment for $344,000 on October 1,2020 . It is estimated that the equipment will have a useful life of 8 years and a salvage value of $44,000. Estimated production is 20,000 units and estimated working hours 10,000 . During 2020 , Concord uses the equipment for 840 hours and the equipment produces 1,200 units. Compute depreciation expense under each of the following methods. Concord 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 $ (b) Activity method (units of output) for 2020$ (c) Activity method (working hours) for 2020$ (d) Sum-of-the-years'-digits method for 2022 \$ (e) Double-declining-balance method for 2021 \$
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