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6.34 An electric automobile can be purchased for $25,000. The automobile is esti- mated to have...
12.22 Four years ago, a firm purchased an industrial batch oven for $23,000. The oven had...
12.22 Four years ago, a firm purchased an industrial batch oven for $23,000. The oven had an estimated life of 10 years with $1,000 salvage value. These original esti- mates are still good. If sold now, the machine will bring in $2,000. If sold at the end of the year, it will bring in $1,500. The market value after the first year has decreased at annual rate of 25%. Annual operating costs for subsequent years are $3,800. A new machine...
Kristen Lu purchased a used automobile for $29,000 at the beginning of last year and incurred...
Kristen Lu purchased a used automobile for $29,000 at the beginning of last year and incurred the following operating costs: Depreciation ($29,000 ÷ 5 years) $ 5,800 Insurance $ 3,000 Garage rent $ 1,600 Automobile tax and license $ 800 Variable operating cost $ 0.13 per mile The variable operating cost consists of gasoline, oil, tires, maintenance, and repairs. Kristen estimates that, at her current rate of usage, the car will have zero resale value in five years, so the...
Kristen Lu purchased a used automobile for $21,500 at the beginning of last year and incurred...
Kristen Lu purchased a used automobile for $21,500 at the beginning of last year and incurred the following operating costs: Depreciation ($21,500 ÷ 5 years) $ 4,300 Insurance $ 2,300 Garage rent $ 1,200 Automobile tax and license $ 600 Variable operating cost $ 0.10 per mile The variable operating cost consists of gasoline, oil, tires, maintenance, and repairs. Kristen estimates that, at her current rate of usage, the car will have zero resale value in five years, so the...
Kristen Lu purchased a used automobile for $22,000 at the beginning of last year and incurred...
Kristen Lu purchased a used automobile for $22,000 at the beginning of last year and incurred the following operating costs: Depreciation ($22,000 = 5 years) Insurance Garage rent Automobile tax and license Variable operating cost $ 4,400 $ 2,300 $ 1,200 $ 600 $ 0.09 per mile The variable operating cost consists of gasoline, oil, tires, maintenance, and repairs. Kristen estimates that, at her current rate of usage, the car will have zero resale value in five years, so the...
Kristen Lu purchased a used automobile for $29,900 at the beginning of last year and incurred...
Kristen Lu purchased a used automobile for $29,900 at the beginning of last year and incurred the following operating costs: Depreciation ($29,900 ÷ 5 years) $ 5,980 Insurance $ 3,100 Garage rent $ 1,600 Automobile tax and license $ 820 Variable operating cost $ 0.09 per mile The variable operating cost consists of gasoline, oil, tires, maintenance, and repairs. Kristen estimates that, at her current rate of usage, the car will have zero resale value in five years, so the...
During the current year, Central Auto Rentals purchased 60 new automobiles at a cost of $23,400...
During the current year, Central Auto Rentals purchased 60 new automobiles at a cost of $23,400 per car. The cars will be sold to a wholesaler at an estimated $3,000 each as soon as they have been driven 51,000 miles. Central Auto Rentals computes depreciation expense on its automobiles by the units- of-output method, based on mileage. a. Compute the amount of depreciation to be recognized for each mile that a rental automobile is driven. b. Assuming that the 60...
Kristen Lu purchased a used automobile for $20,250 at the beginning of last year and incurred...
Kristen Lu purchased a used automobile for $20,250 at the beginning of last year and incurred the following operating costs: Depreciation ($20,250 ÷ 5 years) $ 4,050 Insurance $ 2,100 Garage rent $ 1,100 Automobile tax and license $ 550 Variable operating cost $ 0.08 per mile The variable operating cost consists of gasoline, oil, tires, maintenance, and repairs. Kristen estimates that, at her current rate of usage, the car will have zero resale value in five years, so the...
Kristen Lu purchased a used automobile for $17,550 at the beginning of last year and incurred...
Kristen Lu purchased a used automobile for $17,550 at the beginning of last year and incurred the following operating costs: Depreciation ($17,550 ÷ 5 years) $ 3,510 Insurance $ 1,900 Garage rent $ 1,000 Automobile tax and license $ 490 Variable operating cost $ 0.13 per mile The variable operating cost consists of gasoline, oil, tires, maintenance, and repairs. Kristen estimates that, at her current rate of usage, the car will have zero resale value in five years, so the...
During the current year, Central Auto Rentals purchased 60 new automobiles at a cost of $14,000...
During the current year, Central Auto Rentals purchased 60 new automobiles at a cost of $14,000 per car. The cars will be sold to a wholesaler at an estimated $6,000 each as soon as they have been driven 50,000 miles. Central Auto Rentals computes depreciation expense on its automobiles by the units-of-output method, based on mileage. a. Compute the amount of depreciation to be recognized for each mile that a rental automobile is driven. b. Assuming that the 60 rental...
Exercise 11-14 Identification of Relevant Costs (LO11-11 Kristen Lu purchased a used automobile for $32,050 at...
Exercise 11-14 Identification of Relevant Costs (LO11-11 Kristen Lu purchased a used automobile for $32,050 at the beginning of last year and incurred the following operating costs: Depreciation ($32,50 5 years) Insurance Garage rent Automobile tax and license Variable operating cost $6,410 $3,400 $1,800 $ 890 $ 0.89 per mile The variable operating cost consists of gasoline, oil, tires, maintenance, and repairs, Kristen estimates that, at her current rate of usage, the car will have zero resale value in five...
12.22 Four years ago, a firm purchased an industrial batch oven for $23,000. The oven had an estimated life of 10 years with $1,000 salvage value. These original esti- mates are still good. If sold now, the machine will bring in $2,000. If sold at the end of the year, it will bring in $1,500. The market value after the first year has decreased at annual rate of 25%. Annual operating costs for subsequent years are $3,800. A new machine...
Kristen Lu purchased a used automobile for $22,000 at the beginning of last year and incurred the following operating costs: Depreciation ($22,000 = 5 years) Insurance Garage rent Automobile tax and license Variable operating cost $ 4,400 $ 2,300 $ 1,200 $ 600 $ 0.09 per mile The variable operating cost consists of gasoline, oil, tires, maintenance, and repairs. Kristen estimates that, at her current rate of usage, the car will have zero resale value in five years, so the...
During the current year, Central Auto Rentals purchased 60 new automobiles at a cost of $23,400 per car. The cars will be sold to a wholesaler at an estimated $3,000 each as soon as they have been driven 51,000 miles. Central Auto Rentals computes depreciation expense on its automobiles by the units- of-output method, based on mileage. a. Compute the amount of depreciation to be recognized for each mile that a rental automobile is driven. b. Assuming that the 60...
During the current year, Central Auto Rentals purchased 60 new automobiles at a cost of $14,000 per car. The cars will be sold to a wholesaler at an estimated $6,000 each as soon as they have been driven 50,000 miles. Central Auto Rentals computes depreciation expense on its automobiles by the units-of-output method, based on mileage. a. Compute the amount of depreciation to be recognized for each mile that a rental automobile is driven. b. Assuming that the 60 rental...
Exercise 11-14 Identification of Relevant Costs (LO11-11 Kristen Lu purchased a used automobile for $32,050 at the beginning of last year and incurred the following operating costs: Depreciation ($32,50 5 years) Insurance Garage rent Automobile tax and license Variable operating cost $6,410 $3,400 $1,800 $ 890 $ 0.89 per mile The variable operating cost consists of gasoline, oil, tires, maintenance, and repairs, Kristen estimates that, at her current rate of usage, the car will have zero resale value in five...
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