Equipment purchased at the beginning of the fiscal year for $400,000 is expected to have a useful life of 5 years, or 14,000 operating hours, and a residual value of $20,000. Compute the depreciation for the first and second years of use by each of the following methods: (a)straight-line (b)units-of-production (1,400 hours first year; 3,250 hours second year) (c)declining-balance at twice the straight-line rate

Solomon chemical company makes three products, b7, k6, and x9, which are joint products from the same materials. in a standard batch of 320,000 pounds of raw materials, the company generates 70,000 pounds of b7, 150,000 pounds of k6, and 100,000 pounds of x9. a standard batch costs $3,840,000 to produce. the sales prices per pound are $10, $14, and $20 for b7, k6, and x9, respectively. (a) allocate the joint product cost among the three final products using weight as the allocation base. (b) allocate the joint product cost among the three final products using market value as the allocation base. (c) allocate the joint product cost among the three final products using weight as the allocation base.