Reference no: EM132484080
Sheffield Corp. purchased machinery for $359,100 on May 1, 2017. It is estimated that it will have a useful life of 10 years, salvage value of $17,100, production of 273,600 units, and working hours of 25,000. During 2018, Sheffield Corp. uses the machinery for 2,650 hours, and the machinery produces 29,070 units.
Question 1: From the information given, compute the depreciation charge for 2018 under each of the following methods. (Round intermediate calculations to 2 decimal places, e.g. 5.25 and final answers to 0 decimal places, e.g. 45,892.)
(a) Straight-line$
(b) Units-of-output$
(c) Working hours$
(d) Sum-of-the-years'-digits$
(e) Declining-balance (use 20% as the annual rate)
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