Depreciation CalculationsFive Methods) Seceda Furnace Corp. purchased machinery for $260,000 on July 1, 2023. It...
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Depreciation CalculationsFive Methods) Seceda Furnace Corp. purchased machinery for $260,000 on July 1, 2023. It is estimated that it will have a useful life of 10 years, residual value of $40,000, production of 110,000 units, and working hours of 44,000. During 2024, Seceda uses the machinery for 6,000 hours, and the machinery produces 14,500 units. Instructions From the information given, calculate the depreciation charge for 2024 under each of the following methods. (Round final answers to the nearest dollar.) a. Straight-line b. Units of production. Round the units of production charge to the nearest cent. c. Working hours. Round the per-hour charge to the nearest cent. d. Sum-of-the-years-digits. Do not round intermediate calculations. e. Declining-balance (use 20% as the annual rate). Do not round intermediate calculations.
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