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Pharoah Company purchased a new machine on October 1, 2022, at a cost of $80,100....

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Accounting

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Pharoah Company purchased a new machine on October 1, 2022, at a cost of $80,100. The company estimated that the machine has a salvage value of $7,380. The machine is expected to be used for 72,000 working hours during its 10-year life. Compute depreciation using the following methods in the year indicated. Declining balance using double the straight line rate for 2022 and 2023. 2022 2023 Depreciation using the Declining balance methods Calculate the depreciation cost per hour. (Round answer to 2 decimal places, .. $1.25) Depreciation cost per hour Units-of-activity for 2022, assuming machine usage was 500 hours. (Round answer to 0 decimal places, e.g. 5,275.) Depreciation using the Units-of-activity method for 2022

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