Question

A tractor acquired at a cost of $420,000 has an estimated residual value of $30,000, has an estimated useful life of 25,000 hours, and was operated 1,850 hours during the year. Determine the following. If required, round your answer for the depreciation rate to two decimal places. (a) The depreciable cost $fill in the blank 1 (b) The depreciation rate $fill in the blank 2 per hour (c) The units-of-output depreciation for the year

Answer 1

Currently, the income statement for company reflects a total period cost for depreciation of $7,876,000

Answer 2

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