Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Vaughn Corp. purchased machinery for $347,250 on May 1, 2020. It is estimated that it will have a useful life of 10 years, salvage value

image text in transcribed

Vaughn Corp. purchased machinery for $347,250 on May 1, 2020. It is estimated that it will have a useful life of 10 years, salvage value of $17,250, production of 264,000 units, and working hours of 25,000. During 2021, Vaughn Corp. uses the machinery for 2,650 hours, and the machinery produces 29,300 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 to (b) Units-of-output o (c) Working hours to (d) Sum-of-the-years'-digits to (e) Declining-balance (use 20% as the annual rate) A e Textbook and Media

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting International Edition

Authors: Jeffrey Waybright, Robert Kemp

1st Edition

0137067798, 978-0137067794

More Books

Students also viewed these Accounting questions

Question

3 > O Actual direct-labour hours Standard direct-labour hours...

Answered: 1 week ago