Union Company acquired machinery on January 2, 20X1, for $315,000. The machinery’s estimated useful life is 10 years, and the estimated residual value is $15,000. Union estimates that the machine will
Get perfect grades by consistently using our affordable writing services. Place your order and get a quality paper today. Take advantage of our current 20% discount by using the coupon code GET20
Order a Similar Paper Order a Different Paper
Union Company acquired machinery on January 2, 20X1, for $315,000. The machinery’s estimated useful life is 10 years, and the estimated residual value is $15,000. Union estimates that the machine will produce 15,000 units of product and that 20,000 direct labor hours will be utilized over the useful life of the machine. During 20X1, Union produced 1,200 units of product and used 2,100 direct labor hours.
Required:
Calculate depreciation expense for 20X1 under each of the following methods:
- Straight-line method.
- Production method (units of output).
- Use method (units of input—direct labor hours).
- Sum-of-the-years’ digits method. (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.)
- Double-declining balance method.
Have your paper completed by a writing expert today and enjoy posting excellent grades. Place your order in a very easy process. It will take you less than 5 minutes. Click one of the buttons below.
Order a Similar Paper Order a Different Paper
