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
Pavlova-9 [17]
3 years ago
14

Ivanhoe Company purchased a new machine on October 1, 2017, at a cost of $77,980. The company estimated that the machine has a s

alvage value of $6,860. The machine is expected to be used for 72,900 working hours during its 7-year life. Compute the depreciation expense under the straight-line method for 2017 and 2018, assuming a December 31 year-end.
Business
1 answer:
Marysya12 [62]3 years ago
7 0

Answer:

Depreciation for

2017 = $2,540

2018 = $10,160

Explanation:

Provided, Total cost of the machine = $77,980

Estimated salvage value = $6,860

Therefore, value to be depreciated = $77,980 - $6,860 = $71,120

Total life of asset = 7 years

Depreciation for the year 2017 = October to December = 3 months

\frac{71,120}{7} \times \frac{3}{12} = $2,540

Depreciation for the year 2018 = \frac{71,120}{7} = $10,160

Under straight line method depreciation is fixed for each year, but in the given case in 2017 the asset is used only for 3 months, thus depreciation will be charged for 3 months only.

Final Answer

Depreciation for

2017 = $2,540

2018 = $10,160

You might be interested in
Tell us about a time when you went above and beyond for a customer or a time someone went above and beyond for you.
TEA [102]

As a customer service representative, I have always strived to exceed customer expectations. After helping the customer with the problem, we will get back to you the next week. I will double-check if there is anything wrong with the product you purchased and if there is anything else I can help you with.  My simple approach helped these customers make a good impression on the company and improved customer satisfaction.

When preparing responses to behavioral interview questions such as the following, you can organize your ideas according to the STAR format.

S: Situation - Brief background to the story.

T: Task - Please describe what was expected of you and the minimum required.

A: Action - tells you what you did and how you did it.

R: Results - Finally, show that your efforts have led to better results.

Five Mistakes to Avoid

Don't talk too much.

Avoid non-work experience.

Avoid vague answers.

Avoid suspicious situations (such as unethical behavior).

It doesn't sound like you were forced to do what you did.

Learn more about customers here: brainly.com/question/26313265

#SPJ4

8 0
2 years ago
Identify Ten (10) Differences that exist Between
Alisiya [41]

Explanation:

Consumers buy products for their own use, while businesses buy goods to use in their continuing activities and resell to consumers. Customers appetite and the need for manufacturing supplies force organizations to buy products in greater quantities than people.

4 0
3 years ago
Compute conversion costs given the following data: direct materials, $361,300; direct labor, $195,300; factory overhead, $216,70
Radda [10]

Answer:

a. $412,000

Explanation:

Conversion cost is the combination of direct labor and manufacturing overhead which directly or indirectly are necessary to produce a product other than the direct raw materials.

We know,

<em>Conversion costs = Direct Labor + Manufacturing Overhead</em>

Here,

Manufacturing overhead = Indirect material + Indirect Labor + Indirect overhead (including variable and fixed overhead)

Given,

Direct labor = $195,300

Manufacturing overhead = Factory overhead = $216,700

Selling expenses will not be included because it is not a direct or indirect overhead expense.

Therefore,

<em>Conversion costs = </em>$195,300 + $216,700

<em>Conversion costs = </em>$412,000

8 0
3 years ago
An actor invests some money at 5​% simple​ interest, and ​$21 comma 000 more than three times the amount at 6 %. The total annua
pshichka [43]

Answer:

The total amount invested at 5% is $123,000

The total amount invested at 6% is $390,000

Explanation:

M = amount of money invested at 5%

3M + 21,000 = amount of money invested at 6%

0.05M + 0.06(3M + 21,000) = 29,550

0.05M + 0.18M + 1,260 = 29,550

0.23M = 28,290

M = 28,290 / 0.23 = 123,000

3M + 21,000 = 369,000 + 21,000 = 390,000

5 0
3 years ago
"we are busy producing and marketing profitable products for society to enjoy! now you want us to provide legal services, day-ca
Dovator [93]

The answer is<u> "The economic model of social responsibility".</u>


The economic model of social responsibility holds that society will profit most when business is allowed to sit unbothered to deliver and advertise beneficial items that society needs. Whereas the socioeconomic model of social responsibility places emphasis on benefits as well as on the effect of business choices on society.

4 0
3 years ago
Other questions:
  • sysyster corp. has an ROE of 16 percent and a payout ratio of 24 percent. what is its sustainable growth rate?
    6·1 answer
  • In January 2021, Summit Department Store sells a gift card for $50 and receives cash. In February, 2021, the customer comes back
    9·1 answer
  • Sprinkle Co. sells its product for $60 per unit. During 2016, it produced 60,000 units and sold 50,000 units (there was no begin
    8·1 answer
  • Actual units produced: 13,000 Actual fixed overhead incurred: $742,000 Standard fixed overhead rate: $15 per hour Budgeted fixed
    5·1 answer
  • Which of the following survey response methods is the most difficult for researchers to code for evaluation:
    13·1 answer
  • Feeling "He who does the work of the King ought to be King," Pope Zacharias helped whom become King of the Franks in 751?
    12·1 answer
  • Identify the statement that characterizes the Age Discrimination in Employment Act. Multiple Choice It permits an employer to re
    9·1 answer
  • You need to hire a receptionist that will be handling cash. What steps would you take to make sure you hire the right person?
    7·1 answer
  • Which is a reason why it is important to organize information before preparing a business report?.
    5·1 answer
  • Use the data given in P13-5 for Prince Company.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!