Please I need this question answer Accounting The Rockmart Construction Company delivers dirt and stone from localquarries to its construction sites. A new truck that was purchased for a cost of$118,000 at the beginning of the year was expected to deliver 118,000 tonsover Its useful life.The following Is a breakdown of the tons delivered during the year to eachconstruction site:Construction Sites A BCDTons Delivered1,800 3,300 3,800 1,300How much truck depreciation should be allocated to Site D?a. $15,039b. $1,300c. $1,180d. None of the above answers are correct.

Step 1:Define Overhead AllocationOverhead costs cannot be traced to the units produced physically…

Answered: The Rockmart Construction Company…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 4EA: Montello Inc. purchases a delivery truck for $15,000. The truck has a salvage value of $3,000 and is...

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The Flintstone Construction Company delivers dirt and stone from local quarries to its construction sites. A new truck that was purchased for a cost of $125,000 at the beginning of the year was expected to deliver 208,000 tons over its useful life. The following is a breakdown of the tons delivered during the year to each construction site: Construction Sites: Tons Delivered: Multiple Choice $20,246 $1,683 How much truck depreciation should be allocated to Site A? Note: Do not round Intermediate calculations. Round your answer to the nearest dollar. $1,250 2,800 None of the answers are correct. B 4,300 4,800 2,300
The Flintstone Construction Company delivers dirt and stone from local quarries to its construction sites. A new truck that was purchased for a cost of $122,000 at the beginning of the year was expected to deliver 122,000 tons over its useful life. The following is a breakdown of the tons delivered during the year to each construction site: Construction Sites: Tons Delivered: Multiple Choice $12,767 $1,400 A 1,400 How much truck depreciation should be allocated to Site A? (Do not round intermediate calculations. Round your answer to the nearest dollar.) $1,220 B 2,900 None of the answers are correct. с 3,400 D 900
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Given the following cost information about a fixed asset, calculate depreciation expense for its second year of operation assuming a) straight-line depreciation, b) double-declining balance, and c) units of production. The cost of a truck purchased on January 1 is $30,000. It has a useful life of 5 years or 75,000 miles. At the time of the purchase of the asset, it had an estimated salvage value of $3,000 at the end of its useful life. It is driven 7,500 miles in its first year of operation and 16,750 miles in its second year of operation. Show the presentation of the fixed assets section of the balance sheet at the end of the second year for each of the above situations (i.e., straight-line depreciation, double-declining balance, and units of production). How much is the book value of this asset at the end of that second year under each of those depreciation methods? Solution: Asset book value Straight line Double-declining balance Units of production…
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