Gruman Company purchased a machine for $198,000 on January 2, 2016. It made the following estimates:
Service life 5 years or 10,000 hours
Production 180,000 units
Residual value $18,000
In 2016, Gruman uses the machine for 1,700 hours and produces 40,000 units. In 2017, Gruman uses the machine for 1,200 hours and produces 34,000 units. If required, round your final answers to the nearest dollar.
Required:
Compute the depreciation for 2016 and 2017 under each of the following methods:
a. Straight-line method
b. Sum-of-the-years'-digits method
c. Double-declining-balance method
d. Activity method based on hours worked
e. Activity method based on units of output
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Gruman Company purchased a machine for $198,000 on January 2, 2016. It made the following estimates:...
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