Duluth Ranch, Inc. purchased a machine on January 1, 2018. The cost of the machine was $26,000. Its estimated residual value was $8,000 at the end of an estimated 5-year life. The company expects to produce a total of 20,000 units. The company produced 1,000 units in 2018 and 1,450 units in 2019. Required: a. Calculate depreciation expense for 2018 and 2019 using the straight-line methoo. b. Calculate the depreciation expense for 2018 and 2019 using the units-of-production method c. Calculate depreciation expense for 2018 through 2022 using the double-declining balance method
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Duluth Ranch, Inc. purchased a machine on January 1, 2018. The cost of the machine was $26,000. Its...
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