Kingbird Co. purchased machinery for $170,100 on January 1, 2017. It is estimated that the machinery will have a useful life of 20 years, a salvage value of $14,700, production of 76,400 units, and working hours of 40,300. In 2017, the company used the machinery for 13,702 hours and the machinery produced 14,516 units. Compute the depreciation under the working hours method.

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter22: Accounting For Changes And Errors.
Section: Chapter Questions
Problem 11E: On January 1, 2014, Klinefelter Company purchased a building for 520,000. The building had an...
icon
Related questions
Question

Provide correct solution

Kingbird Co. purchased machinery for $170,100 on January 1, 2017. It
is estimated that the machinery will have a useful life of 20 years, a
salvage value of $14,700, production of 76,400 units, and working
hours of 40,300. In 2017, the company used the machinery for 13,702
hours and the machinery produced 14,516 units. Compute the
depreciation under the working hours method.
Transcribed Image Text:Kingbird Co. purchased machinery for $170,100 on January 1, 2017. It is estimated that the machinery will have a useful life of 20 years, a salvage value of $14,700, production of 76,400 units, and working hours of 40,300. In 2017, the company used the machinery for 13,702 hours and the machinery produced 14,516 units. Compute the depreciation under the working hours method.
Expert Solution
steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Financial Accounting Intro Concepts Meth/Uses
Financial Accounting Intro Concepts Meth/Uses
Finance
ISBN:
9781285595047
Author:
Weil
Publisher:
Cengage