Wonder Fried Chicken bought equipment on January 2, 2024, for $30,000. The equipment was expected to remain in service for four years and to operate for 8,000 hours. At the end of the equipment's useful life, Wonder estimates that its residual value will be $6,000. The equipment operated for 800 hours the first year, 2,400 hours the second year, 3,200 hours the third year, and 1,600 hours the fourth year. Read the requirements Before calculating the units-of-production depreciation schedule, calculate the depreciation expense per unit. Select the formula, then enter the amounts and calculate the depreciation expense per unit. Cost Residual value = Useful life in units Depreciation per unit $ 30,000 6,000 8.000 3 Book Prepare a depreciation schedule using the units-of-production method. Units-of-Production Depreciation Schedule Depreciation for the Year Asset Depreciation Number of Depreciation Accumulated Date Cost Per Unit Units Expense Depreciation 1-2-2024 $ 30,000 $ 12-31-2024 $ 3 800 $ 2.400 $ 2,400 12-31-2025 7,200 12-31-2026 3 19,2009 12-31-2027 1,600 4.800 Value 30,000 27,600 20,400 10,800 9,600 2.400 = 3.200 = 9,600 24.000 6,000 Prepare a depreciation schedule using the double-declining-balance (DDB) method. (Enter a "0" for any items with a zero value.) Book Value Double-Declining-Balance Depreciation Schedule Depreciation for the Year Asset Book DDB Depreciation Accumulated Date Cost Value Rate Expense Depreciation 1-2-2024 $ 30,000 12-31-2024 $ 2 (1-4) $ 15,000 $ 15,000 12-31-2025 15,000 2 x (1:4) 7,500 22,500 12-31-2026 7,500 1,500 24,000 12-31-2027 0 $ 30,000 30,000 15,000 7,500 6,000 6,000 24.000 Requirement 2. Which method tracks the wear and tear on the equipment most closely? The units-of-production method tracks wear and tear most closely. This question is complete. Move your cursor over or tap on the red arrows to see incorrect answers