Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $45,300. The machine's useful life is estimated at 10 years, or 403,000 units of product, with a $5,000 salvage value During its second year, the machine produces 34,300 units of product. Determine the machine's second-year depreciation and year end book value under the straight-line method. Choose Denominator Annual Depreciation Expense Choose Numerator: Depreciation expense ear 2 Depreciation ear end book value (Year 2)

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12-12-2022
Mathematics

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Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $45,300. The machine's useful life is estimated at 10 years, or 403,000 units of product, with a $5,000 salvage value During its second year, the machine produces 34,300 units of product. Determine the machine's second-year depreciation and year end book value under the straight-line method. Choose Denominator Annual Depreciation Expense Choose Numerator: Depreciation expense ear 2 Depreciation ear end book value (Year 2)

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contexto1019 contexto1019 · Answer 1 · 2022-12-19T01:35:57-05:00

The machine's second-year depreciation is 37240 and year end book value under the straight-line method is 16308.

Straight-line depreciation can be calculated as follows: Cost minus salvage/Estimated useful life (years)= Depreciation expense

=40300/10

=4030

Year 2 depreciation = 4030

Year end book value (Year 2)=37240

Double-declining balance depreciation can be calculated as follows:

Beginning book value x Double the straight-line rate = Depreciation expense; First year's depreciation = 45300x 20%=9060 and Second year's depreciation = 36240x20%=7248

Thus, The annual year depreciation is 9060+7248=16308.

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Complete question:

Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $45,300. The machine's useful life is estimated at 10 years, or 403,000 units of product, with a $5,000 salvage value During its second year, the machine produces 34,300 units of product. Determine the machine's second-year depreciation and year end book value under the straight-line method.