Required information [The following information applies to the questions displayed below.] On January 1, Year 1, Scott Company purchased a new machine for $330,000. The machine is expected to have an eight- year life and a $75,000 salvage value. The machine is expected to produce 910,000 finished products during its eight- year life. Production during Year 1 was 81,000 units and during Year 2 was 121,000 units. Required: a) Determine the amount of depreciation expense to be recorded on the machine for Year 1 and Year 2, respectively, using Straight- line method: Depreciation expense Year 1 Year 2

Required information [The following information applies to the questions displayed below] On January 1, Year 1, Scott Company purchased a new machine for $330,000. The machine is expected to have an elghtyear life and a $75,000 salvage value. The machine is expected to produce 910,000 finished products during its eightyear life. Production during Year 1 was 81,000 units and during Year 2 was 121,000 units. Required: a) Determine the amount of depreciation expense to be recorded on the machine for Year 1 and Year 2, respectively, using Straightline method