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Annette [7]
3 years ago
12

Marlow Company purchased a point of sale system on January 1 for $6,300. This system has a useful life of 10 years and a salvage

value of $850. What would be the depreciation expense for the second year of its useful life using the double-declining-balance method
Business
1 answer:
iren2701 [21]3 years ago
3 0

Answer:

Depreciation expense Year 2= $872

Explanation:

Giving the following information:

Purchase price= $6,300

Salvage value= $850

Useful life= 10

<u>To calculate the depreciation expense under the double-declining balance method, we need to use the following formula each year:</u>

Annual depreciation= 2*[(book value)/estimated life (years)]

Year1= 2*[(6,300 - 850)/10]= $1,090

Year2= 2*[(5,450 - 1,090)/10]= $872

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Dozier Company produced and sold 1,000 units during its first month of operations. It reported the following costs and expenses
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Answer:

Required 1

<u>Part a</u>

<em>Total Product cost = Variable manufacturing costs + Fixed manufacturing costs</em>

where,

Variable manufacturing costs = ($84,000 + $42,500 + $21,000) ÷ 1,000 units = $147.50

Fixed manufacturing costs = $32,500 ÷ 1,000 units = $32.50

therefore,

Total Product cost = $147.50 + $32.50 = $180.00

<u>Part b</u>

<em>Total period cost = variable non- manufacturing costs + fixed non-manufacturing costs</em>

where,

variable non- manufacturing costs = $15,000 + $5,500 = $20,500

fixed non-manufacturing costs = $24,000 + $28,000 = $52,000

therefore,

Total period cost = $20,500 + $52,000 = $72,500

Required 2

<u>Part a</u>

<em>total direct manufacturing cost = Direct Materials + Direct Labor + Direct (Variable) Manufacturing Overheads</em>

therefore,

total direct manufacturing cost = $84,000 + $42,500 + $21,000 = $147,500

<u>Part b</u>

<em>total indirect manufacturing cost = fixed manufacturing costs</em>

therefore

total indirect manufacturing cost = $32,500

Required 3

<u>Part a</u>

<em>total manufacturing cost = variable manufacturing cost + fixed manufacturing costs</em>

therefore,

total manufacturing cost = $84,000 + $42,500 + $21,000 + $32,500 = $180,000

<u>Part b</u>

<em>total non-manufacturing cost = variable non-manufacturing cost + fixed non-manufacturing cost</em>

therefore,

total non-manufacturing cost = $20,500 + $52,000 = $72,500

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<em>total conversion cost = direct labor cost + manufacturing overheads</em>

therefore,

total conversion cost = $42,500 + $21,000 + $32,500 = $96,000

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therefore,

prime cost = $84,000 + $42,500 = $126,500

Required 4

<u>Part a</u>

<em>total variable manufacturing cost = direct materials + direct labor + variable manufacturing costs</em>

therefore,

total variable manufacturing cost = $84,000 + $42,500 + $21,000 = $147,500

<u>Part b</u>

<em>total fixed cost = fixed manufacturing costs + fixed non-manufacturing costs</em>

therefore,

total fixed cost = $32,500 + $52,000 = $84,500

<u>Part c</u>

<em>variable cost per unit produced and sold = variable manufacturing cost + variable non-manufacturing</em>

therefore,

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<em>incremental manufacturing costs =  variable manufacturing costs</em>

therefore,

incremental manufacturing cost = ($84,000 + $42,500 + $21,000) ÷ 1,000 units = $147.50

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Answers are: 
<span>Producers supply the exact goods that consumers buy.
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The whole economy does not waste resources, since this is the market-efficient outcome, and there aren't many shortages or surpluses for the same reason. </span>
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