On May 2, 2020, Uniglobe Satellite Company purchased and installed a new machine that cost $273,000, with a five-year life and an estimated $38,220 residual value. Management estimated that the machine would produce 168,000 units of product during its life. Actual production of units was as follows:

2020 ...................................... 23,5202021 ...................................... 36,9602022 ...................................... 33,6002023 ...................................... 31,9202024 ...................................... 26,6002025 ...................................... 30,940

Required

Prepare a schedule with the following column headings.

Show the depreciation for each year (calculated to the nearest whole month) and the total depreciation for the machine under each depreciation method. For units-of production, round the depreciation charge per unit to two decimal places. The company?s year-end is December 31.

Transcribed Image Text:

Year Units-of-Production Double-Declining-Balance Straight-Line