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Discuss production method of depreciation

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On January 1, 2017, Betty DeRose, Inc. purchased a piece of machinery for $170,000. Themachine had an estimated useful life of 10 years and a salvage value of $5,000. It is known that the machine is expected to be used for a total of 500,000 hours over itsexpected life.

Assume Betty DeRose depreciates its assets using the units of production method of depreciation.The following financial statement amounts relate to the machine:Book value at December 31, 2018 ....................... $133,700Depreciation expense for 2020 ......................... 17,490Accumulated depreciation at December 31, 2020 ......... 69,960Calculate the number of hours that the machine was used in 2019. Enter your answer asa number (i.e., 65,000). Do not use the $ or decimals in your answer. Additionally,do not type the word hours after your answer.

Reference no: EM131751386

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