Question
Required information [The following information applies to the questions displayed below.] On January 1, 2021, the Allegheny Corporation purchased equipment for $150,000. The estimated service
Required information
[The following information applies to the questions displayed below.] On January 1, 2021, the Allegheny Corporation purchased equipment for $150,000. The estimated service life of the equipment is 10 years and the estimated residual value is $18,000. The equipment is expected to produce 240,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods.
3. Units of production (units produced in 2021, 50,000; units produced in 2022, 45,000). (Round "Depreciation per unit rate" answers to 2 decimal places.)
select formula for units of production depreciation: | |
calculate 2021 depreciation expense : | |
depreciation per unit rate | $ ???? |
units produced in 2021 | |
depreciation in 2021 | $ ??? |
calculate 2022 depreciation expense : | |
depreciation per unit | $ ???? |
units produced in 2022 | |
depreciation in 2022 | $ ???? |
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