E$8-10($Algo$)$ Computing Depreciation under Alternative Methods LO$8-3$

Strong Metals Incorporated purchased a new stamping machine at the beginning of the year at a cost of $$1,330,000.$ The estimated residual value was $$70,000.$ Assume that the estimated useful life was five years and the estimated productive life of the machine was $300,000$ units. Actual annual production was as follows:

Year Units

$170,000$

$267,000$

$350,000$

$473,000$

$540,000$

Required:

$1.$ Complete a separate depreciation schedule for each of the alternative methods.

Straight$-$line.

Units$-$of$-$production.

Double$-$declining$-$balance.