Hinshaw Company purchased a new machine on October 1, 2014, at a cost of $93,210

Question

Hinshaw Company purchased a new machine on October 1, 2014, at a cost of $93,210. The company estimated that the machine has a salvage value of $8,460. The machine is expected to be used for 67,160 working hours during its 8-year life. Compute depreciation using the following methods in the year indicated. Declining-balance using double the straight-line rate for 2014 and 2015. (Round answers to 0 decimal places, e.g. 125) Calculate the depreciation cost per hour. (Round answer to 2 decimal places, e.g. $6.25) Units-of-activity for 2014, assuming machine usage was 3,570 hours. (Round answer to 0 decimal places, e.g. 125)

Explanation / Answer

Hinshaw Company purchased a new machine on October 1, 2014, at a cost of $93,210

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