Computing Partial Period Depreciation Using Various Depreciation Methods

Quick Producers acquired factory equipment on March $1$ of Year $1$ costing $$78,000.$ In view of pending technological developments, it is estimated that the equipment will have ar $$16,000$ resale value upon disposal in four years and that disposal costs will be $$1,000.$ Data relating to the equipment follow.

$\backslash$table$[[$Estimated Service Life$],[$Years$,4],[$Service hours,$40,000]]$

Calendar Year Actual Service Hours

$\backslash$table$[[$Year $1,9,400],[$Year $2,10,000],[$Year $3,9,600],[$Year $4,8,800],[$Year $5,2,000]]$

Required

Compute depreciation expense each year for the life of the asset assuming $(1)$ units$-$of$-$production, $(2)$ straight$-$line, $(3)$ sum$-$of$-$the$-$years'$-$digits, and $(4)$ double$-$declining$-$balance depreciation.

Note: Round depreciation expense to the nearest whole dollar

Units$-$of$-$Production