Solution-Compute depreciation expense under straight-line

Compute depreciation expense under straight-line method

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Reference no: EM132316854

Question :

Metlock Company purchased equipment for $258,915 on October 1, 2017. It is estimated that the equipment will have a useful life of 8 years and a salvage value of $14,760. Estimated production is 39,700 units and estimated working hours are 19,900. During 2017, Metlock uses the equipment for 530 hours and the equipment produces 1,000 units.

Compute depreciation expense under each of the following methods. Metlock is on a calendar-year basis ending December 31.

(Round rate per hour and rate per unit to 2 decimal places, e.g. 5.35 and ?nal answers to 0 decimal places, e.g. 45,892.)

(a) Straight-line method for 2017

(b) Activity method (units of output) for 2017

(d) Sum-of-the-years‘-digit.s method for 2019

(e) Double-declining-balance method for 2018

Reference no: EM132316854

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Compute depreciation expense under straight-line method

Reference no: EM132316854

Reference no: EM132316854

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