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Required information [The following information applies to the questions displayed below.] Petro Motors Inc. (PMI) produces small gasoline-powered motors for use in lawn mowers. The company has been growing steadily over the past five years and is operating at full capacity. PMI recently completed the addition of new plant and equipment at a cost of $7,800,000, thereby increasing its manufacturing capacity to 100,000 motors annually. The addition to plant and equipment will be depreciated on a straight-line basis over 10 years. Sales of motors were 60,000 units prior to the completion of the additional capacity. Cost records indicated that manufacturing costs had totaled $60 per motor, of which $48 per motor was considered to be variable manufacturing costs. PMI has used the volume of activity at full capacity as the basis for applying fixed manufacturing overhead. The normal selling price is $80 per motor, and PMI pays a 5% commission on the sale of its motors. LawnPro.com offered to…

Required information [The following information applies to the questions displayed below.] Petro Motors Inc. (PMI) produces small gasoline-powered motors for use in lawn mowers. The company has been growing steadily over the past five years and is operating at full capacity. PMI recently completed the addition of new plant and equipment at a cost of $7,800,000, thereby increasing its manufacturing capacity to 100,000 motors annually. The addition to plant and equipment will be depreciated on a straight-line basis over 10 years. Sales of motors were 60,000 units prior to the completion of the additional capacity. Cost records indicated that manufacturing costs had totaled $60 per motor, of which $48 per motor was considered to be variable manufacturing costs. PMI has used the volume of activity at full capacity as the basis for applying fixed manufacturing overhead. The normal selling price is $80 per motor, and PMI pays a 5% commission on the sale of its motors. LawnPro.com offered to…

Required information [The following information applies to the questions displayed below.] Petro Motors Inc. (PMI) produces small gasoline-powered motors for use in lawn mowers. The company has been growing steadily over the past five years and is operating at full capacity. PMI recently completed the addition of new plant and equipment at a cost of $7,800,000, thereby increasing its manufacturing capacity to 100,000 motors annually. The addition to plant and equipment will be depreciated on a straight-line basis over 10 years. Sales of motors were 60,000 units prior to the completion of the additional capacity. Cost records indicated that manufacturing costs had totaled $60 per motor, of which $48 per motor was considered to be variable manufacturing costs. PMI has used the volume of activity at full capacity as the basis for applying fixed manufacturing overhead. The normal selling price is $80 per motor, and PMI pays a 5% commission on the sale of its motors. LawnPro.com offered to…

Required information [The following information applies to the questions displayed below.] Petro Motors Inc. (PMI) produces small gasoline-powered motors for use in lawn mowers. The company has been growing steadily over the past five years and is operating at full capacity. PMI recently completed the addition of new plant and equipment at a cost of $7,800,000, thereby increasing its manufacturing capacity to 100,000 motors annually. The addition to plant and equipment will be depreciated on a straight-line basis over 10 years. Sales of motors were 60,000 units prior to the completion of the additional capacity. Cost records indicated that manufacturing costs had totaled $60 per motor, of which $48 per motor was considered to be variable manufacturing costs. PMI has used the volume of activity at full capacity as the basis for applying fixed manufacturing overhead. The normal selling price is $80 per motor, and PMI pays a 5% commission on the sale of its motors. LawnPro.com offered to…

Required information [The following information applies to the questions displayed below] University Car Wash built a deluxe car wash across the street from campus. The new machines cost $231,000 including installation. The company estimates that the equipment will have a residual value of $25,500. University Car Wash also estimates it will use the machine for six years or about 12,500 total hours. Actual use per year was as follows: Year 1 2 3 4 5 6 Total Year 1 2. Prepare a depreciation schedule for six years using the double-declining balance reinod (Do not round your intermediate calculations.) Hours Used 2,900 1,800 1,900 2,100 $ 1,900 1,909 UNIVERSITY CAR WASH Depreciation Schedule-Double-Declining Balance Depreciation Expense End of year amounts Accumulated Depreciation Book Value

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Required information [The following information applies to the questions displayed below.] Nicole's Getaway Spa (NGS) purchased a hydrotherapy tub system to add to the wellness programs at NGS. The machine was purchased at the beginning of the year at a cost of $8,500. The estimated useful life was five years and the residual value was $500. Assume that the estimated productive life of the machine is 10,000 hours. Expected annual production was year 1, 2,250 hours, year 2, 2,350 hours: year 3, 2,300 hours; year 4. 2.100 hours; and year 5, 1,000 hours. Required: 1. Complete a depreciation schedule for each of the alternative methods. a. Straight-line. b. Units-of-production. c. Double-declining-balance Complete this question by entering your answers in the tabs below. Req 1A Req 1C Complete a depreciation schedule for straight-line method. (Do not round intermediate calculations. Round your final answers to the nearest dollar amount.) Req 18 Year At Acquisition Year 1 Year 2 Year 3 Year…

Current Attempt in Progress Windsor Inc., manufactures ice tea and would like to increase its market share in the North. In order to do so, Windsor has decided to locate a new factory in the Cedar Rapid area. Windsor will either buy or lease a site depending upon which is more advantageous. The site location committee has narrowed down the available sites to the following three buildings: Building A: Purchase for a cash price of $1,547,000, useful life 27 years. Building B: Lease for 27 years with annual lease payments of $126,000 being made at the beginning of the year. Building C: Purchase for $1,958,000 cash. This building is larger than needed; however, the excess space can be sublet for 27 years at a net annual rental of $19,300. Rental payments will be received at the end of each year. Windsor Inc. has no aversion to being a landlord. Click here to view factor tables In which building would you recommend that Windsor Inc. locate, assuming a 12% cost of funds? (Round factor values…

Required information Use the following information for the Exercises below. (Algo) Skip to question   [The following information applies to the questions displayed below.] Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $44,200. The machine's useful life is estimated at 10 years, or 392,000 units of product, with a $5,000 salvage value. During its second year, the machine produces 33,200 units of product.   Exercise 8-6 (Algo) Double-declining-balance depreciation LO P1 Determine the machine’s second-year depreciation using the double-declining-balance method.

Required information Use the following information for the Exercises below. (Algo) Skip to question   [The following information applies to the questions displayed below.] Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $44,200. The machine's useful life is estimated at 10 years, or 392,000 units of product, with a $5,000 salvage value. During its second year, the machine produces 33,200 units of product.   Exercise 8-5 (Algo) Units-of-production depreciation LO P1 Determine the machine’s second-year depreciation using the units-of-production method.

Requireu iIONiation Use the following information for the Exercises below. [The following information applies to the questions displayed below.] Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $47,500. The machine's useful life is estimated at 10 years, or 405,000 units of product, with a $7,000 salvage value. During its second year, the machine produces 34,500 units of product. Exercise 8-5 Units-of-production depreciation LO P1 Determine the machine's second-year depreciation using the units-of-production method. Units-of-production Depreciation Choose Numerator: Choose Denominator: Annual Depreciation Expense %3D Depreciation expense per unit Year Annual Production (units) Depreciation Expense

Required information [The following information applies to the questions displayed below.] Nicole's Getaway Spa (NGS) purchased a hydrotherapy tub system to add to the wellness programs at NGS. The machine was purchased at the beginning of the year at a cost of $16,000. The estimated useful life was five years and the residual value was $1,000. Assume that the estimated productive life of the machine is 10,000 hours. Expected annual production was year 1, 2,400 hours; year 2, 2,300 hours; year 3, 2,200 hours; year 4, 2,100 hours; and year 5, 1,000 hours. 3. Assume NGS sold the hydrotherapy tub system for $4,800 at the end of year 3. The following amounts were forecast for year 3: Sales Revenues $53,000; Cost of Goods Sold $41,000; Other Operating Expenses $5,300; and Interest Expense $1,100. Create an income statement for year 3 for each of the different depreciation methods, ending at Income before Income Tax Expense. (Don't forget to include a loss or gain on disposal for each…

Required information Use the following information for the Exercises below. Skip to question   [The following information applies to the questions displayed below.] Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $43,500. The machine’s useful life is estimated at 10 years, or 385,000 units of product, with a $5,000 salvage value. During its second year, the machine produces 32,500 units of product.   Exercise 8-6 Double-declining-balance depreciation LO P1 Determine the machine’s second-year depreciation using the double-declining-balance method. Required information Use the following information for the Exercises below. Skip to question   [The following information applies to the questions displayed below.] Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $43,500. The machine’s useful life is estimated at 10 years, or 385,000 units of…

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1. At the Poly Novo 2023 Annual General Meeting (" AGM) heid on 3 November, 2023 they revealed plans to construct a new manufacturing facility adjacent to its existing facility, PolyNovo has already performed a substantial amount of design analysis related to the new facility at a cost of $70, 000. The capital expenditure of $845, 000 associated with the construction of the new facility and the annual operating expenses are substantial. 2. The capital cost of the new facility is expected to be $845, 000 today. PolyNovo must also purchase $300, 000 of plant and equipment ("P&E"). At the end of FY23 PolyNovo had" $46.8m of cash on hand and it plans to use S0.3 million of their cash balance to pay for the building which will reduce the capital cost to just $545,000. If the new facility is built, a piece of obsolete manufacturing equipment must be sold. The equipment had a total capital cost in 2020 of $220,000 and is being depreciated at 511,000 per annum for the years 2021 to 2030…

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Baird Moran manages the cutting department of Greene Benson Company. He purchased a tree-cutting machine on January 1, Year 2, for $370,000. The machine had an estimated useful life of 5 years and zero salvage value, and the cost to operate it is $85,000 per year. Technological developments resulted in the development of a more advanced machine available for purchase on January 1, Year 3, that would allow a 20 percent reduction in operating costs. The new machine would cost $198,000 and have a 4-year useful life and zero salvage value. The current market value of the old machine on January 1, Year 3, Is $210,000, and Its book value is $296,000 on that date. Straight-line depreciation is used for both machines. The company expects to generate $240,000 of revenue per year from the use of elther machine. Required a. Recommend whether to replace the old machine on January 1, Year 3. b. Prepare Income statements for four years (Year 3 through Year 6) assuming that the old machine is…

Baird Moran manages the cutting department of Greene Benson Company. He purchased a tree-cutting machine on January 1, Year 2, for $370,000. The machine had an estimated useful life of 5 years and zero salvage value, and the cost to operate it is $85,000 per year. Technological developments resulted in the development of a more advanced machine available for purchase on January 1, Year 3, that would allow a 20 percent reduction in operating costs. The new machine would cost $198,000 and have a 4-year useful life and zero salvage value. The current market value of the old machine on January 1, Year 3, Is $210,000, and Its book value is $296,000 on that date. Straight-line depreciation is used for both machines. The company expects to generate $240,000 of revenue per year from the use of elther machine. Required a. Recommend whether to replace the old machine on January 1, Year 3. b. Prepare Income statements for four years (Year 3 through Year 6) assuming that the old machine c. Prepare…

Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $83,600. The machine's useful life is estimated at 20 years, or 398,000 units of product, with a $4,000 salvage value. During its second year, the machine produces 33,800 units of product. Exercise 8-5 (Algo) Units-of-production depreciation LO P1 Determine the machine's second-year depreciation using the units-of-production method. Units-of-production Depreciation Choose Numerator: Choose Denominator: Annual Depreciation Expense Cost minus salvage = Depreciation expense per unit 79 600 Year Annual Production (units) Depreciation Expense Year 2 search 10:21 AM (96) 68°F 10/1/2021 144 440 prt sc delete home 96 80 backspace mUrn lock RI H. enter B.

Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $83,600. The machine's useful life is estimated at 20 years, or 398,000 units of product, with a $4,000 salvage value. During its second year, the machine produces 33,800 units of product. Exercise 8-4 (Algo) Straight-line depreciation LO P1 Determine the machine's second-year depreciation and year end book value under the straight-line method. Straight-Line Depreciation Choose Numerator: / Annual Depreciation Expense Choose Denominator: = Depreciation expense Year 2 Depreciation Year end book value (Year 2) e to search O 68°F a 144 prt sc delete 96 & Y K

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Adams Moran manages the cutting department of Greene Baird Company. He purchased a tree-cutting machine on January 1, year 2, for $360,000. The machine had an estimated useful life of 5 years and zero salvage value, and the cost to operate it is $91,000 per year. Technological developments resulted in the development of a more advanced machine available for purchase on January 1, year 3, that would allow a 25 percent reduction in operating costs. The new machine would cost $210,000 and have a 4-year useful life and zero salvage value. The current market value of the old machine on January 1, year 3, is $198,000, and its book value is $288,000 on that date. Straight-line depreciation is used for both machines. The company expects to generate $220,000 of revenue per year from the use of either machine. Required a. Recommend whether to replace the old machine on January 1, year 3. b. Prepare income statements for four years (year 3 through year 6) assuming that the old machine is…

Adams Moran manages the cutting department of Greene Baird Company. He purchased a tree-cutting machine on January 1, Year 2, for $360,000. The machine had an estimated useful life of 5 years and zero salvage value, and the cost to operate it is $91,000 per year. Technological developments resulted in the development of a more advanced machine available for purchase on January 1, Year 3, that would allow a 25 percent reduction in operating costs. The new machine would cost $210,000 and have a 4-year useful life and zero salvage value. The current market value of the old machine on January 1, Year 3, is $198,000, and its book value is $288,000 on that date. Straight-line depreciation is used for both machines. The company expects to generate $220,000 of revenue per year from the use of either machine. Required a. Recommend whether to replace the old machine on January 1, Year 3. b. Prepare income statements for four years (Year 3 through Year 6) assuming that the old machine is…

Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $49,000. The machine's useful life is estimated at 10 years, or 400,000 units of product, with a $9,000 salvage value. During its second year, the machine produces 34,000 units of product. Exercise 8-4 Straight-line depreciation LO P1 Determine the machine's second-year depreciation and year end book value under the straight-line method. Straight-Line Depreciation Annual Depreciation Expense Choose Numerator: / Choose Denominator: Depreciation expense Year 2 Depreciation Year end book value (Year 2)

Thornton Moran manages the cutting department of Greene Vernon Company. He purchased a tree-cutting machine on January 1, year 2, for $510,000. The machine had an estimated useful life of 5 years and zero salvage value, and the cost to operate it is $101,000 per year. Technological developments resulted in the development of a more advanced machine available for purchase on January 1, year 3, that would allow a 30 percent reduction in operating costs. The new machine would cost $350,000 and have a 4-year useful life and zero salvage value. The current market value of the old machine on January 1, year 3, is $270,000, and its book value is $408,000 on that date. Straight-line depreciation is used for both machines. The company expects to generate $230,000 of revenue per year from the use of either machine. Required a. Recommend whether to replace the old machine on January 1, year 3. b. Prepare income statements for four years (year 3 through year 6) assuming that the old machine is…

Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $49,000. The machine's useful life is estimated at 10 years, or 400,000 units of product, with a $9,000 salvage value. During its second year, the machine produces 34,000 units of product. Exercise 8-6 Double-declining-balance depreciation LO P1 Determine the machine's second-year depreciation using the double-declining-balance method. Double-declining-balance Depreciation Annual Depreciation Expense Choose Factors: Choose Factor(%) х Depreciation expense First year's depreciation %3D Second year's depreciation