Assume that the company, after recording depreciation using the straight-line method, for the first six...
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Assume that the company, after recording depreciation using the straight-line method, for the first six months of 2026. determined on July 1,2026, that the robots could be operated for two more years than originally estimated. Because of this, the residual value at the end of this revised useful life would now be $44,000. Calculate the annual depreciation and total depreciation over the robots' remaining lives. Total depreciation $ Cullumber Limited purchased four articulated robots on account on May 1,2024, at an invoice price of $550, 000. On May 2, it paid $4,000 for delivery of the robots. A one-year, $5,500 insurance policy on the robots was purchased on May 3. On May 30, Cullumber paid $10,000 for assembly, installation and testing of each robot on a production line. The robots started operating or were ready for use on July 1. Cullumber estimates the useful life of the robots will be four years or 10,100 units with a residual value of $100,000. Assume the robots collectively produce the following numbers of units each year: 1,500 units in 2024;2,800 units in 2025; 2,600 unl $ in 2026 ; 2,200 units in 2027; and 1,000 units in 2028. Cullumber has a December 31 year end. Assume that the company, after recording depreciation using the straight-line method, for the first six months of 2026 , determined on July 1,2026, that the robots could be operated for two more years than originally estimated. Because of this, the residual value at the end of this revised useful life would now be $44,000. Calculate the annual depreciation and total depreciation over the robots' remaining lives
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