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miv72 [106K]
3 years ago
13

Tamarisk, Inc. purchased a delivery truck for $29,200 on January 1, 2020. The truck has an expected salvage value of $2,200, and

is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 16,100 in 2020 and 12,800 in 2021.
Required:
Compute depreciation expense for 2020 and 2021 using (1) the straight-line method, (2) the units-of-activity method, and (3) the double-declining-balance method.
Business
1 answer:
solmaris [256]3 years ago
8 0

Answer:

1. $3375

$3375

2. $4347

$3456

3 $7300

$5475

Explanation:

Straight line depreciation expense = (Cost of asset - Salvage value) / useful life

( $29,200  - $2,200,) / 8 =  $3375

depreciation expense each year is  $3375

Depreciation expense using the double declining method = Depreciation factor x cost of the asset

Depreciation factor = 2 x (1/useful life)  = 2/8 = 0.25

2020 = 0.25 x 29200 = 7300

2021 = 0.25x( 29200 - 7300)

Activity method based on output = (output produced that year / total output of the machine) x (Cost of asset - Salvage value)

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The formula for the calculation is

<u>CM ratio = Unit contribution margin ÷ Unit selling price </u>

The break-even in monthly dollar sales is closest to $578,100

Explanation:

The formula for the calculation is

<u>CM ratio = Unit contribution margin ÷ Unit selling price </u>

<u></u>

<u>Given that </u>

<u>Selling price of the product=</u>$185.00 per unit

variable cost=$55.50 per unit

fixed expense=$404,670 per month

<u></u>

= ($185.00 per unit − $55.50 per unit) ÷ $185.00 per unit

= $129.50 per unit ÷ $185.00 per unit = 0.70

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= $404,670 ÷ 0.70

= $578,100

The break-even in monthly dollar sales is closest to $578,100

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3 years ago
In which type of appraisal interview does the interviewer communicate the strong and weak points of an employee's performance du
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<u>Answer: </u>Tell and Listen method of appraisal is used in the above mentioned scenario.

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2 years ago
The typical risks of a cost leadership strategy include: a. the inability to balance high differentiation and low price. b. exce
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3 years ago
Polaski Company manufactures and sells a single product called a Ret. Operating at capacity, the company can produce and sell 34
Tpy6a [65]

Answer:

$69020

Explanation:

Selling price -$54

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Incremental sales - 45.36*7000= 317520

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Direct labor = 6*7000 =              (42000)

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