Ray construction purchased a concrete mixer on august 1

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Reference no: EM13613503

Ray Construction purchased a concrete mixer on August 1, 20x5. Company officials revealed the following information regarding this asset and its acquisition: purchase price = $126,000, Residual Value = 18,000, Estimated useful life = 10 years, Estimated service hours = 38,000, Estimated production in units = 500,000 yards, Actual hours used in 20x5 = 5,225, Actual 20x5 production = 77,000 yards.

A) Calculate depreciation for 20x5 and 20x6 assuming the company uses the straight-line method.

B) Calculate depreciation for 20x5 only using as service capacity: 1) Service hours and 2) Units of Production.

Reference no: EM13613503

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