On September 1, the Blending Department of Jo's Bakery had costs carried forward from August totaling $50,000. Resources consumed to complete the beginning inventory totaled $39,000. The total cost of units started in the Blending Department during September was $500,000. On September 30, costs assigned to the department's ending inventory totaled $64,000. Compute the costs transferred out of the Blending Department during September. Kelly's Fitness Center purchased a new step machine for $18,000. The apparatus is expected to last four years and have a residual value of $750. What will the depreciation expense be for each year under the straight-line method? (Round to 2 decimals)
On September 1, the Blending Department of Jo's Bakery had costs carried forward from August totaling $50,000. Resources consumed to complete the beginning inventory totaled $39,000. The total cost of units started in the Blending Department during September was $500,000. On September 30, costs assigned to the department's ending inventory totaled $64,000. Compute the costs transferred out of the Blending Department during September. Kelly's Fitness Center purchased a new step machine for $18,000. The apparatus is expected to last four years and have a residual value of $750. What will the depreciation expense be for each year under the straight-line method? (Round to 2 decimals)
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:On September 1, the Blending Department of Jo's Bakery had costs carried forward from August totaling $50,000.
Resources consumed to complete the beginning inventory totaled $39,000.
The total cost of units started in the Blending Department during September was $500,000.
On September 30, costs assigned to the department's ending inventory totaled $64,000.
Compute the costs transferred out of the Blending Department during September.
Kelly's Fitness Center purchased a new step machine for $18,000.
The apparatus is expected to last four years and have a residual value of $750.
What will the depreciation expense be for each year under the straight-line method?
(Round to 2 decimals)
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