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guapka [62]
3 years ago
12

A factory machine was purchased for $70,000 on January 1. It was estimated that it would have a $14,000 salvage value at the end

of its 5-year useful life. It was also estimated that the machine would be run 40,000 hours in the five years. If the actual number of machine hours ran in the first year was 4,000 hours and the company uses the units-of-activity method of depreciation, the amount of depreciation expense for year 1 would be
Business
1 answer:
denis-greek [22]3 years ago
7 0

Answer:

$5600

Explanation:

The amount of depreciation expense for year 1

depreciation under the first year under units of activity method

[ (cost - salvage value) / estimated machine hours ] * actual machine hours worked in the first year

= [(70000 - 14000) /  40000 ] * 4000

= 56000 / 40000 ) * 4000

= 1.4 * 4000 = $5600 ( amount of depreciation expense for year 1 )

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3 years ago
What is the term for when businesses produce goods and services that consumers do not want​
tino4ka555 [31]

Answer:

Productive (technical) inefficiency.

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In Economics, there are two types of inefficiency associated with the production of goods and services, these includes;

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4 0
3 years ago
You have $2,000 today in your savings account. How long must you wait for your savings to be worth $4,500 if you are earning 1.2
Alenkasestr [34]

Answer:

n= 65.27 years

Explanation:

Giving the following information:

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n= ln(FV/PV) / ln(1+i)

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n= 65.27 years

3 0
3 years ago
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Answer:

E) a, b, and c are possible.

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