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mel-nik [20]
3 years ago
5

Crane Company purchased a new machine on October 1, 2022, at a cost of $89,920. The company estimated that the machine has a sal

vage value of $9,440. The machine is expected to be used for 71,300 working hours during its 8-year life. Compute the depreciation expense under the straight-line method for 2022 and 2023, assuming a December 31 year-end. (Round answers to 2 decimal places, e.g. 5,275.25.) 2022 2023 The depreciation expense under the straight-line method $
Business
2 answers:
ipn [44]3 years ago
8 0

Answer:

2021 --- $2,515.00

2022 -— $10,060

Explanation:

GIVEN the following ;

Cost of machine = $89,920

Date of purchase = October 1, 2022

Salvage value = $9,440

Number of Useful years = 8

To calculate depreciation expense using the straight line method:

Straight line depreciation =

(Cost of machine - Salvage value) / number of useful years

$(89,920 - 9,440) ÷ 8

$80,480 ÷ 8 = $10,060

Depreciation expense for 2021:

October 1 — December 31, 2021 = 3 months :

$10,060 × (3÷12) = $2,515.00

Depreciation expense for 2022:

January 1 — December 31, 2022 :

1 whole year:

Depreciation expense = $10,060.00

guapka [62]3 years ago
7 0

Answer:

For the year 2022 , $2,515

For the year 2023, $10,060

Explanation:

In this question, we are asked to compute the depreciation expense under the straight-line method for the years 2022 and 2023 for the new machine purchased by Crane company.

We employ a mathematical approach in tackling this.

Mathematically;

Straight line depreciation = (cost - salvage value)/ number of years useful

From the question we can identify the following;

Cost of purchase= $89,920

Salvage value = $9,440

Number of years useful = 8 years

Plugging this to get the straight line depreciation, we have;

(89,920-9,440)/8 = 80,480/8 = 10,060

For the year 2022, we have ; 3 months window since, machine was purchased October and we are assuming year end December 31st

Thus, straight line depreciation for year 2022 = 3/12 * 10,060 = $2,515

For 2023, straight line depreciation = 10,060( since we have a full year)

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Suppose Keyboard estimates it will use 125 comma 000 comma 000 parts per month and ship products with a total volume of 27 comma
djverab [1.8K]

Answer:

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b)

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Keyboard estimates it will use 125,000,000 parts per month and ship products with a total volume of 27,500,000 cubic feet per month.

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8 0
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Answer:

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7 0
3 years ago
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