Novak Corp. purchased machinery for $321,300 on May 1, 2017. It is estimated that it...
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Novak Corp. purchased machinery for $321,300 on May 1, 2017. It is estimated that it will have a useful life of 10 years, salvage value of $15,300, production of 244,800 units, and working hours of 25,000. During 2018, Novak Corp. uses the machinery for 2,650 hours, and the machinery produces 26,010 units.
Novak Corp. purchased machinery for $321,300 on May 1, 2017. It is estimated that it will have a useful life of 10 years, salvage value of $15,300, production of 244,800 units, and working hours of 25,000. During 2018, Novak Corp. uses the machinery for 2,650 hours, and the machinery produces 26,010 units. From the information given, compute the depreciation charge for 2018 under each of the following methods. (Round intermediate calculations to 2 decimal places, e.g.5.25 and final answers to 0 decimal places, e.g. 45,892.) (a) Straight-line (b) Units-of-output (c) Working hours (d) Sum-of-the-years'-digits (e) Declining-balance (use 20% as the annual rate)
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