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Sheffield Corp. purchased machinery for $347,550 on May 1, 2020. It is estimated that it will have a useful life of 10 years, salvage value
Sheffield Corp. purchased machinery for $347,550 on May 1, 2020. It is estimated that it will have a useful life of 10 years, salvage value of $17,550, production of 264,000 units, and working hours of 25,000. During 2021, Sheffield Corp. uses the machinery for 2,650 hours, and the machinery produces 29,800 units. From the information given, compute the depreciation charge for 2021 under each of the following methods. (Round intermediate calculations to 2 decimal places, e.g. 5.25 and final answers to O decimal places, e.g. 45,892.) (a) Straight-line Tool Content (b) Units-of-output 0 (c) Working hours 0 (d) Sum-of-the-years'-digits 0 (e) Declining-balance (use 20% as the annual rate) $
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