On January 1, 2021, Hobart Mfg. Co. purchased a drill press at a cost of $36,000. The drill press is expected to last 10 years and has a residual value of $6,000. During its 10-year life, the equipment is expected to produce 500,000 units of product. In 2021 and 2022, 25,000 and 84,000 units, respectively, were produced.
Depreciation year one - $7,200
Depreciation year two - : $7,200
Book value year one - $28,800
Book value year two - $21,600
Depreciation year one - $3,600
Depreciation year two - $3,600
Book value year one - $32,400
Book value year two - $28,800
Depreciation year one - $7,200
Depreciation year two = $5,760
Book value year one - $28,800
Book value year two = $23,040
Depreciation year one - $14,400
Depreciation year two = $8,640
Book value year one - $21,600
Book value year two = $12,960
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “On January 1, 2021, Hobart Mfg. Co. purchased a drill press at a cost of $36,000. The drill press is expected to last 10 years and has a ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Expand academic a sap, the publication field indicates
Answers (1)
At its $34 selling price, Atlantic Company has sales of $17,000, variable manufacturing costs of $6,000, fixed manufacturing costs of $1,000, variable selling and administrative costs of $2,000 and fixed selling and administrative costs of $1,000.
Answers (2)
In order to perform her job, carol had to work with a variety of computer software. she enjoys her work, but decided to drop out of the labor market for five years so she could stay home until her new baby reached school age.
Answers (1)
The standard price and quantity of direct materials are separated because
Answers (1)
Southeast Corporation made sales of $ 950 million during 2018. Of this amount, Southeast collected cash for $ 876 million. The company's cost of goods sold was $ 260 million, and all other expenses for the year totaled $ 275 million.
Answers (1)
New Questions in Business
A letter of credit: a. Ensures a company that funds will be available when needed b. Is analogous to a credit card that companies can draw on as needed c. Is a representation that a company has a high credit rating d.
Answers (1)
In a business organization, the splitting of management and ownership into two distinct functions is an example of a (n)
Answers (1)
Alan Jackson invests $20,000 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, Alan withdraws the accumulated amount of money.
Answers (1)
Will Jones, LLP is a small CPA firm that focuses primarily on preparing tax returns for small businesses. The company pays a $500 annual fee plus $10 per tax return for a license to use Mega Tax software.
Answers (1)
Which strategy is most likely to improve most people's financial situation over a lifetime? A. using a credit to spend more than a person. B. making financial decisions quickly based on intuition. C.
Answers (1)