Pharoah Company purchased equipment on March 27, 2018, at a cost of $312,000. Management is contemplating the merits of using the diminishing-balance or units-of-production method of depreciation instead of the straight-line method, which it currently uses for other equipment. The new equipment has an estimated residual value of $8,000 and an estimated useful life of either four years or 80,000 units. Demand for the products produced by the equipment is sporadic so the equipment will be used more in some years than in others. Assume the equipment produces the following number of units each year: 14,200 units in 2018; 20,000 units in 2019; 20,800 units in 2020; 20,000 units in 2021; and 5,000 units in 2022. Pharoah has a December year-end.

Prepare separate depreciation schedules for the life of the equipment using: (Round depreciation per unit to 2 decimal places, e.g. 5.28 and final answers to 0 decimal places, e.g. 5,275.) Straight-line method: Depreciable Amount Depreciation Expense Accumulated Depreciation Carrying Amount Year 312000 2018 $ $ 57000 57000 255000 2019 76000 179000 2020 76000 103000 2021 76000 27000 2022 19000 304000 8000 Double-diminishing-balance method: Double-diminishing-balance method: Opening Carrying Amount Depreciation Expense Accumulated Depreciation Carrying Amount Year $ 312000 2018 $ 312000 $ 2019 2020 2021 2022 Part 2 Compare the total depreciation expense and accumulated depreciation under each of the three methods over the life of the equipment. (Round answers to 0 decimal places, e.g. 5,275.) Straight-Line Units-of-Production Double-Diminishing-Balance Total depreciation expense $ $ $ Accumulated depreciation