Reference no: EM132554986
Zeyba Furniture Company purchased a new machine for its assembly process on January 1, 2019. The cost of this machine was $880,000. The company estimated that the machine would have a residual value of $80,000 at the end of its service life. Its life is estimated at 4 years, and its working hours are estimated total activity level at 8,000,000 hours and 5,000,000 respectively. Activity rate 0.10 hours used and 0.16 units produced respectively. Year-end is December 31.
Required:
Question 1: Calculate the depreciation expense of each of the 4 years under the following methods:
(a) Activity (output production) assuming the following actual production:
(a)-1. Hours used 1,440,000, 2,000,000, 2,400,000, and 2,160,000 respectively .
(a)-2. Units produced 1,500,000, 2,000,000, 1,000,000, and 500,000, respectively .
(b) Straight line depreciation.
(c) Sum-of-the-years' digits.
(d) Double declining balance.
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