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The cost of equipment purchased by Oriole, Inc., on June 1, 2025, is $90,300. It is estimated that the machine will have a $6,300 salvage value at the end of its service life. Its service life is estimated at 7 years, its total working hours are estimated at 42,000, and its total production is estimated at 600,000 units. During 2025, the machine was operated 7,260 hours and produced 66,550 units. During 2026, the machine was operated 6,655 hours and produced 58,000 units. Compute depreciation expense on the machine for the year ending December 31, 2025, and the year ending December 31, 2026, using the following methods. (Round depreciation per unit to 2 decimal places, e.g. 15.25 and final answers to O decimal places, e.g. 45,892) b. C. Straight-line Working hours d. Sum-of-the-years'-digits e. Units-of-output $ Double-declining-balance $ 2025 7000 9310 14520 $ $ $ 2026 12000 8120 13310

The cost of equipment purchased by Oriole, Inc., on June 1, 2025, is $90,300. It is estimated that the machine will have a $6,300 salvage value at the end of its service life. Its service life is estimated at 7 years, its total working hours are estimated at 42,000, and its total production is estimated at 600,000 units. During 2025, the machine was operated 7,260 hours and produced 66,550 units. During 2026, the machine was operated 6,655 hours and produced 58,000 units. Compute depreciation expense on the machine for the year ending December 31, 2025, and the year ending December 31, 2026, using the following methods. (Round depreciation per unit to 2 decimal places, e.g. 15.25 and final answers to O decimal places, e.g. 45,892) b. C. Straight-line Working hours d. Sum-of-the-years'-digits e. Units-of-output $ Double-declining-balance $ 2025 7000 9310 14520 $ $ $ 2026 12000 8120 13310

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The cost of equipment purchased by Oriole, Inc., on June 1, 2025, is $90,300. It is estimated that the machine will have a $6,300 salvage value at the end of its service life. Its service life is estimated at 7 years, its total working hours are estimated at 42,000, and its total production is estimated at 600,000 units. During 2025, the machine was operated 7,260 hours and produced 66,550 units. During 2026, the machine was operated 6,655 hours and produced 58,000 units. Compute depreciation expense on the machine for the year ending December 31, 2025, and the year ending December 31, 2026, using the following methods. (Round depreciation per unit to 2 decimal places, e.g., 15.25 and final answers to 0 decimal places, e.g., 45,892.) ### Depreciation Methods #### 2025 - **a. Straight-line:** - Amount: $7,000 - **b. Units-of-output:** - Amount: $9,310 - **c. Working hours:** - Amount: $14,520 - **d. Sum-of-the-years’-digits:** - Amount: - **e. Double-declining-balance:** - Amount: #### 2026 - **a. Straight-line:** - Amount: $12,000 - **b. Units-of-output:** - Amount: $8,120 - **c. Working hours:** - Amount: $13,310 - **d. Sum-of-the-years’-digits:** - Amount: - **e. Double-declining-balance:** - Amount:
Transcribed Image Text:The cost of equipment purchased by Oriole, Inc., on June 1, 2025, is $90,300. It is estimated that the machine will have a $6,300 salvage value at the end of its service life. Its service life is estimated at 7 years, its total working hours are estimated at 42,000, and its total production is estimated at 600,000 units. During 2025, the machine was operated 7,260 hours and produced 66,550 units. During 2026, the machine was operated 6,655 hours and produced 58,000 units. Compute depreciation expense on the machine for the year ending December 31, 2025, and the year ending December 31, 2026, using the following methods. (Round depreciation per unit to 2 decimal places, e.g., 15.25 and final answers to 0 decimal places, e.g., 45,892.) ### Depreciation Methods #### 2025 - **a. Straight-line:** - Amount: $7,000 - **b. Units-of-output:** - Amount: $9,310 - **c. Working hours:** - Amount: $14,520 - **d. Sum-of-the-years’-digits:** - Amount: - **e. Double-declining-balance:** - Amount: #### 2026 - **a. Straight-line:** - Amount: $12,000 - **b. Units-of-output:** - Amount: $8,120 - **c. Working hours:** - Amount: $13,310 - **d. Sum-of-the-years’-digits:** - Amount: - **e. Double-declining-balance:** - Amount:
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