Bridgeport Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2022, at a cost of $221,582. Over its6-year useful life, the bus is expected to be driven146,700miles. Salvage value is expected to be $7,400. 

Compute the depreciable cost per unit. (Round answer to 2 decimal places, e.g. 0.50.)

Depreciation cost per unit

$enter the depreciation cost in dollars per mile rounded to 2 decimal places Correct answerper mile

 

Prepare a depreciation schedule assuming actual mileage was: 2022,25,700; 2023,43,000; 2024,45,000; and 2025,33,000. (Round cost per unit to 2 decimal places, e.g. 15.25 and all other answers to 0 decimal places, e.g. 5,275.

Computation				End of Year
Year		Units of Activity	x	Depreciation Cost /Unit	=	Annual Depreciation Expense		Accumulated Depreciation		Book Value
2022		enter a number of units rounded to 0 decimal placesIncorrect answer		$enter a dollar amount rounded to 2 decimal places Correct answer		$enter a dollar amount rounded to 0 decimal places Correct answer		$enter a dollar amount rounded to 0 decimal places Correct answer		$enter a dollar amount rounded to 0 decimal places Correct answer
2023		enter a number of units rounded to 0 decimal placesIncorrect answer		enter a dollar amount rounded to 2 decimal placesCorrect answer		enter a dollar amount rounded to 0 decimal placesCorrect answer		enter a dollar amount rounded to 0 decimal placesCorrect answer		enter a dollar amount rounded to 0 decimal placesCorrect answer
2024		enter a number of units rounded to 0 decimal placesIncorrect answer		enter a dollar amount rounded to 2 decimal placesCorrect answer		enter a dollar amount rounded to 0 decimal placesCorrect answer		enter a dollar amount rounded to 0 decimal placesCorrect answer		enter a dollar amount rounded to 0 decimal placesCorrect answer
2025		enter a number of units rounded to 0 decimal placesIncorrect answer		enter a dollar amount rounded to 2 decimal placesCorrect answer		enter a dollar amount rounded to 0 decimal placesCorrect answer		enter a dollar amount rounded to 0 decimal placesCorrect answer		enter a dollar amount rounded to 0 decimal placesIncorrect answer

2

Current Attempt in Progress

Waterway Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases.

Date		Number of Units		Unit Cost
May 7		45		$13
July 28		25		16

On June 1, Waterway sold20units, and on August 27,45more units.

(a)

Prepare the perpetual inventory schedule for the above transactions using FIFO.

Product E2-D2
Date		Purchases		Cost of Goods Sold		Balance
May 7		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount
June 1		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount
July 28		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount
Aug. 27		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount