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On January 2, 2018, GMC. purchased machinery for $168,000. The machine's useful life was estimated...

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Question

Accounting

On January 2, 2018, GMC. purchased machinery for $168,000. The machine's useful life was estimated at four years or a total of 190,000 units with a residual value of $35,000.

Required:

Calculate the depreciation under the Units of Production method for December 31, 2018, assuming actual units produced was 39,900 for 2018, using the formula:

Cost - Residual Value/Estimated Total Production x Actual Production

Round to two decimal places (100.00).

ANS:

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