Required information [The following information applies to the questions displayed below.) On January 1, 2018,...
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Required information [The following information applies to the questions displayed below.) On January 1, 2018, Hobart Mfg. Co purchased a drill press at a cost of $36,300e drill press is expected to last 10 years and has a residual value of $6,700. During its 10-year life, the equipment is expected to produce 500,000 units of product. In 2018 and 2019, 28,500 and 91,000 units, respectively, were produced. Required: Compute depreciation for 2018 and 2019 and the book value of the drill press at December 31, 2018 and 2019, assuming the sum-of- the-years-digits method is used. (Round your intermediate calculations and final answers to the nearest whole dollar amount.) 2018 2019 Depreciation Book Values
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