1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
castortr0y [4]
3 years ago
12

Minor company installs a machine in its factory at the beginning of the year at a cost of $135,000. the machine's useful life is

estimated to be 5 years, or 300,000 units of product, with a $15,000 salvage value. during its first year, the machine produces 64,500 units of product. determine the machines' first year depreciation under the straight-line method.
Business
1 answer:
sveticcg [70]3 years ago
3 0

To determine what the depreciation of an asset using straight line method, the formula to be used is:

(Initial cost of machine – salvage value) divided by estimated useful life


So in this problem:

Initial Cost - $135000

Salvage Value – $15000

Estimated Useful Life – 5 years

Plug that in the formula


Annual depreciation = ($135000 - $15000) / 5

= $120000/ 5

= $24,000


The first year depreciation for the machine is $24000 because the company bought it in the beginning of the year. (So there is no need to divide this by 12 months)

To record this:

Depreciation Expense $24000

<span>          Accumulated Depreciation $24000</span>

You might be interested in
Big AD and AS general equilibrium system (2 points): Assume that the short-run equilibrium output and price combination Yeq,Peq
Andru [333]

Answer:

6hdhksbdjxiiiijjjdh77

3 0
3 years ago
Assume there are six companies in a certain industry. Four companies have $10 sales apiece, while two companies have $5 sales ea
antoniya [11.8K]

Answer:

An industry consists of six firms with annual sales of $300, $500, $400, $700, $600, and $600, respectively. a. What is the industry's four firm concentration ratio? b. What is the industry's Herfindahl-Hirschman index? c. Is this industry highly concentrated? Explain.

Explanation:

5 0
2 years ago
Davis Company uses a standard cost system for its production process and applies overhead based on direct labor hours. The follo
evablogger [386]

Answer:

$1,800

Explanation:

Calculation to determine the variable overhead efficiency variance

Using this formula

VOH Efficiency Variance = Budgeted VOH based on Actual - Budgeted VOH/Standard Qty

Let plug in the formula

VOH Efficiency Variance = ((16,000 * $1.80/hr) - ((5,000 * 3.00hrs/unit * $1.80/hr))

VOH Efficiency Variance = $(28,800.00 - $27,000.00)

VOH Efficiency Variance = $1.800

Therefore Using the four-variance approach, what is the variable overhead efficiency variance will be $1,800

8 0
2 years ago
At the beginning of the year, Sheridan Company had total assets of $845,000 and total liabilities of $600,000. (Treat each item
zlopas [31]

Answer:

A. Stockholders equity at the end is $493,000.

B. Closing total assets is $865,000.

C. Closing liability is $410,000.

Explanation:

A.  Closing total assets:

= Opening assets + increase in assets

= $845,000 + $177,000

= $1,022,000

Closing liability:

= Opening liability - Decrease in liability

= $600,000 - $71,000

= $529,000

Closing equity:

= Closing assets - Closing liability

= $1,022,000 - $529,000

= $493,000

B.  Opening equity:

= Opening assets - Opening liability

= $845,000 - $600,000

= $245,000

Closing assets:

= Opening assets + increase in liability - Decrease in equity

= $845,000 + $92,000 - $72,000

= $865,000

C.  Closing liability:

= Opening liability - decrease in assets - increase in equity

= $600,000 - $90,000 - $100,000

= $410,000

6 0
3 years ago
A(n) _____ strategy identifies the set of businesses, markets, or industries in which the organization competes and the distribu
Ksju [112]
I think the correct answer from the choices listed above is the last option. A corporate strategy identifies the set of businesses, markets, or industries in which the organization competes and the distribution of resources amongthose businesses. Hope this answers the question.
7 0
3 years ago
Other questions:
  • You earn money from working part-time at the local grocery store. you also receive a weekly allowance from your parents. both yo
    11·1 answer
  • When carter first moved into his neighborhood, he noticed hundreds of frogs on the roads after a rain storm. lately, carter has
    12·2 answers
  • Ads sent via email must be designated as advertisements.<br> 1. True<br> 3. False
    10·1 answer
  • Sarah owns half of Smith Realty, Inc., and her brother Bill owns the other half. Sarah routinely uses the company car, which is
    14·2 answers
  • Paid $7,000 of accrued taxes at the time the plant site was acquired. choose an account title 2. Paid $200 insurance to cover a
    12·1 answer
  • 3. Explain why price is equal to marginal revenue in pure competition but not in a monopoly. Include in your explanation why the
    14·1 answer
  • A company’s prepaid expenses are $15,000 at the beginning of the year and $8,000 at the end of the year. What adjustment to net
    5·2 answers
  • Mr. Brown asked the parents of one of his students to meet with him. He acknowledged their demanding work schedule and agreed to
    9·2 answers
  • What is the name of the international community of network designers, operators, vendors and researchers concerned with the evol
    15·1 answer
  • If you begin investing at age 25 instead of age 20, how much more do you need to invest per month to have $1M at retirement?
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!