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Figaro Production bought a machine at the beginning of the year at a cost of $29,000. The estimated useful life was five years and the
Figaro Production bought a machine at the beginning of the year at a cost of $29,000. The estimated useful life was five years and the esidual value was $2,000. Assume the estimated productive life of the machine is 13,500 units. Expected annual production was year , 2,700 units; year 2, 3,700 units; year 3, 2,700 units; year 4, 2,700 units; and year 5, 1,700 units. Required: 1. Complete a depreciation schedule for the units-of-production method. Prepare the journal entry to record Year 2 depreciation. Complete this question by entering your answers in the tabs below. Complete a depreciation schedule for the units-of-production method. (Do not round intermediate calculations. Round final answers to the nearest whole dollars.)
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