Duluth Ranch, Incorporated purchased a machine on January 1, 2021. The cost of the machine was $30,500. Its estimated residual value was $9,500 at the end of an estimated 5-year life. The company expects to produce a total of 10,000 units. The company produced 1,150 units in 2021 and 1,600 units in 2022. Required: a. Calculate depreciation expense for 2021 and 2022 using the straight-line method. b. Calculate the depreciation expense for 2021 and 2022 using the units-of-production method. c. Calculate depreciation expense for 2021 through 2025 using the double-declining balance method. Complete this question by entering your answers in the tabs below. Required A Required B Required Calculate depreciation expense for 2021 and 2022 using the straight-line method. 2021 2022 Depreciation Expense Per Year ered Required B > Duluth Ranch, Incorporated purchased a machine on January 1, 2021. The cost of the machine was $30,500. Its estimated residual value was $9,500 at the end of an estimated 5-year life. The company expects to produce a total of 10,000 units. The company produced 1150 units in 2021 and 1,600 units in 2022. Required: a. Calculate depreciation expense for 2021 and 2022 using the straight-line method. b. Calculate the depreciation expense for 2021 and 2022 using the units-of-production method. c. Calculate depreciation expense for 2021 through 2025 using the double-declining balance method. Complete this question by entering your answers in the tabs below. Required A Required B Required Calculate the depreciation expense for 2021 and 2022 using the units-of-production method. (Do not round your intermediate calculations, Round your final answers to the nearest whole dollar.) 2021 2022 Depreciation Expense Duluth Ranch, Incorporated purchased a machine on January 1, 2021. The cost of the machine was $30,500. Its estimated residual value was $9,500 at the end of an estimated 5-year life. The company expects to produce a total of 10,000 units. The company produced 1,150 units in 2021 and 1,600 units in 2022. Required: a. Calculate depreciation expense for 2021 and 2022 using the straight-line method. b. Calculate the depreciation expense for 2021 and 2022 using the units-of-production method. c. Calculate depreciation expense for 2021 through 2025 using the double-declining balance method. Complete this question by entering your answers in the tabs below. Required A Required B Required Calculate depreciation expense for 2021 through 2025 using the double-declining balance method. (Round your final answers to nearest whole dollar.) 2021 2022 2023 2024 2025 Depreciation Expense
