Wildhorse Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on...
Wildhorse Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2022, at a cost of $129,000. Over its 4-year useful life, the bus is expected to be driven 216,250 miles. Salvage value is expected to be $7,900.
1. Compute the depreciation cost per unit.
2. Prepare a depreciation schedule assuming actual mileage was: 2022, 51,600; 2023, 67,000; 2024, 52,800; and 2025, 44,850.
Homework Answers
Requirement 1
| Depreciation per mile | $ 0.56 |
Working
| Units of Production method | ||
| A | Cost | $ 129,000 |
| B | Residual Value | $ 7,900 |
| C=A - B | Depreciable base | $ 121,100 |
| D | Usage in units(in miles) | 216250 |
| E | Depreciation per mile | $ 0.56 |
Requirement 2
| Depreciation schedule-Units of Activity | |||||
| Year | Book Value | Usage | Depreciation expense | Ending Book Value | Accumulated Depreciation |
| 2022 | $ 129,000 | 51600 | $ 28,896 | $ 100,104 | $ 28,896 |
| 2023 | $ 100,104 | 67000 | $ 37,520 | $ 62,584 | $ 66,416 |
| 2024 | $ 62,584 | 52800 | $ 29,568 | $ 33,016 | $ 95,984 |
| 2025 | $ 33,016 | 44850 | $ 25,116 | $ 7,900 | $ 121,100 |
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at a cost of $263,321. Over its 6-year useful life, the bus is
expected to be driven 174,300 miles. Salvage value is expected to
be $7,100.
Prepare a depreciation schedule assuming actual mileage was:
2020, 46,300; 2021, 45,000; 2022, 48,000; and 2023, 35,000.
(Round cost per unit to 2 decimal places, e.g. 15.25
and all other answers to 0 decimal places,...
Whippet Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2017, at a cost of $126,000. Over its 4-year useful life, the bus is expected to be driven 210,000 miles. Salvage value is expected to be $8,400. Compute the depreciation cost per unit. (Round answer to 3 decimal places, es, 6.251) Depreciation cost per units eTextbook and Media Prepare a depreciation schedule assuming actual mileage was: 2017, 50,400: 2018, 65,520:2019,51,660; and 2020,...
Swifty Bus Lines uses the units-of-activity method in
depreciating its buses. One bus was purchased on January 1, 2020,
at a cost of $263,321. Over its 6-year useful life, the bus is
expected to be driven 174,300 miles. Salvage value is expected to
be $7,100.
Compute the depreciable cost per unit. (Round answer
to 2 decimal places, e.g. 0.50.)
Depreciation cost per unit
$
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