The depreciation expense to the machine that Mohr Company purchased, in year 2, based on the cost of the machine and the units of production method is $4, 000
<h3>How to find the depreciation expense?</h3>
When using the units-of-production method to find depreciation, the focus would be on the amount of products that a machine or equipment was able to produce in a year, and then comparing this to the total amount of units the machine was to produce over its lifetime.
Firstly, there is a need to find the useful value of the machine by the formula:
= Cost of machine- Salvage value
= 48, 000 - 5, 000
= $43, 000
The depreciation expense in year 2 would then be:
= Number of units produced in year 2 / Total number of units expected over lifetime x Useful value of machine
= 8, 000 / 86, 000 x 43, 000
= $4, 000
Find out more on the units-of-production method at brainly.com/question/15731283
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Answer:
b. Raw materials inventory.
Explanation:
There are basically three cycles to make a product ready to sale
1. Raw material
2. Work in process
3. Finished goods
The raw material is the part of the product. In the work in process, the products parts are in process to combine all the parts of the products. And, in the finished goods cycle, after processing the product, the product is finished and then the product is ready to sale.
The costs of goods sold and the conversion cost are the cost which are related to the product