Problem 8-2A (Algo) Depreciation methods LO P1 A machine costing $215,800 with a four-year life and an estimated $19,000 salvage value is installed in Luther Company's factory on January 1. The factory manager estimates the machine wil produce 492,000 units of product during its life. It actually produces the following units: 121,400 in Year 1, 123,300 in Year 2, 119700 in Year 3, 137,600 in Year 4. The total number of units produced by the end of Year 4 exceeds the original estimate-this difference was not predicted. Note: The machine cannot be depreciated below its estimated salvage value. Required: Compute depreciation for each year (and total depreciation of all years combined) for the machine under each depreciation method. Note: Round your per unit depreciation to 2 decimal places. Round your answers to the nearest whole dollar. Complete this question by entering your answers in the tabs below. Compute depreciation for each year (and total depreciation of all years combined) for the machine under the Doubledeclining-balance. Required informetion Problem 8-1A (Algo) Plant asset costs; depreciation methods LO C1, P1 [The following information applies to the questions displayed below] Timberly Construction makes a lump-sum purchase of several assets on January 1 at a total cash price of $840,000. The estimated market values of the purchased assets are building, $460,800; land, $288,000; land improvements, $67,200. and four vehicles, $144,000. Problem 8-1A (Algo) Part 1-3 Required: 1-0. Allocate the lump-sum purchase price to the separate assets purchased. 1.b. Prepare the joumal entry to record the purchase. 2. Compute the first-year depreciation expense on the building using the straight-line method, assuming a 15 -year life and a $32.000 salvage value. 3. Compute the first-year depreciation expense on the land improvements assuming a five-year life and double-declining-balance depreciation. Complete this question by entering your onswers in the tabs below. Allocate the lump-sum purchase price to the separote assets purchased. Problem 8-2A (Algo) Depreciation methods LO P1 A machine costing $215,800 with a four-year life and an estimated \$19,000 salvage value is installed in Luther Company's factory on January 1. The factory manager estimates the machine wil produce 492,000 units of product during its life, it actually produces the following units: 121,400 in Year 1,123,300 in Year 2, 119,700 in Year 3, 137,600 in Year 4. The total number of units produced by the end of Year 4 exceeds the original estimate-this difference was not predicted. Note: The machine cannot be depreciated below its estimated salvage value. Required: Compute depreciation for each year (and total depreciation of all years combined) for the machine under each depreciation method. Note: Round your per unit deprecietion to 2 decimal ploces. Round your onswers to the nearest whole dollor. Complete this question by entering your answers in the tabs below. Compute depreciation for each year (and total depreciation of all years combined) for the machine under the Units of production. Required information Problem 8-1A (Algo) Plant asset costs; depreciation methods LO C1, P1 [The following information applies to the questions displayed below] Timberly Construction makes a lump-sum purchase of several assets on January 1 at a total cash price of $840,000. The estimated market values of the purchased assets are buliding. $460,800; land, $288,000; land improvements, \$67,200; and four vehicles, $144.000. Problem 8-1A (Algo) Part 1-3 Required: 1-a. Allocate the lump-sum purchase price to the separate assets purchased. 1.b. Prepare the joumal entry to record the purchase. 2. Compute the first-year depreciation expense on the bullding using the straight-line method, assuming a 15 -year life and a $332.000 salvage value. 3. Compute the first-year depreciation expense on the land improvements assuming a five-year life and double-declining-balance depreciation. Complete this question by entering your answers in the tabs below. Compute the first-year depreciation expense on the land improvements assuming a five-year life and double-declining-balance depreciation. 2. Compute the first-year depreciation expense on the buiding using the straight-line method, assuming a 15 -year life and a $32,000 salvage value. 3. Compute the first-year depreciation expense on the tand improvements assuming a five-year tire and double-declining-balance depreclation. Complete this question by entering your answers in the tabs below. Prepare the journal entry to record the purchaso. Journal entry worksheet Required information Problem 8-1A (Algo) Plant asset costs; depreciation methods LO C1, P1 The following information applies to the questions displayed below] Timberly Construction makes a lump-sum purchase of several assets on January 1 at a total cash price of $840,000. The estimated market values of the purchased assets are building. $460,800; land, $288,000; land improvements, $67,200. and four vehicles, $144,000 Problem 8-1A (Algo) Part 1-3 Required: 1-a. Allocate the lump-sum purchase price to the separate assets purchased. 1.b. Prepare the joumal entry to record the purchase. 2. Compute the first-year depreciation expense on the building using the straight-line method, assuming a 15-year life and a $32,000 salvage value. 3. Compute the first-year depreciation expense on the land improvements assuming a five-year life and double-declining-balance depreciation. Complete this question by entering your answers in the tabs below. Compute the first-year depreciation expense on the building using the straight-line method, assuming a 15 -year life and a $32,000 salvage value. Note: Round your answer to the nearest whole dollar. Problem 8-2A (Algo) Depreciation methods LO P1 A machine costing $215,800 with a four-year life and an estimated $19,000 salvage value is installed in Luther Company's factory on January 1. The factory manager estimates the machine will produce 492.000 units of product during its life. It actually produces the following units: 121,400 in Year 1, 123,300 in Year 2,119,700 in Year 3,137,600 in Year 4. The total number of units produced by the end of Year 4 exceeds the original estimate-this difference was not predicted. Note; The machine cannot be depreciated below its estimated salvage value. Required: Compute depreciation for each year (and total depreciation of all years combined) for the machine under each depreciation method: Note: Round your per unit depreciotion to 2 decimal places. Round your answers to the nearest whole doller. Complete this question by entering your answers in the tabs below. Compute depreciation for each year (and total depreciation of all years combined) for the machine under the Straight-line depreciation. Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below] Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $47,500. The machine's useful life is estimated at 10 years, or 405,000 units of product, with a $7,000 salvage value. During its second year, the machine produces 34,500 units of product. Exercise 8-6 (Algo) Double-declining-balance depreciation LO P1 Determine the machine's second-year depreciation using the double-declining-balance method