Question

Whippet Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on...

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 $131,000. Over its 4-year useful life, the bus is expected to be driven 236,000 miles. Salvage value is expected to be $7,100.

Correct answer iconYour answer is correct.

Compute the depreciation cost per unit. (Round answer to 3 decimal places, e.g. 6.251)

Depreciation cost per unit

$Type your answer here

eTextbook and Media

  

  

Incorrect answer iconYour answer is incorrect.

Prepare a depreciation schedule assuming actual mileage was: 2017, 52,400; 2018, 68,120; 2019, 53,710; and 2020, 35,370. (Round depreciation cost per unit to 3 decimal places, e.g. 0.125 and other answers to 0 decimal places, e.g. 125)

Computation

End of Year

Years

Units of Activity

 ×

Depreciation Cost/Unit

 =

Annual Depreciation Expense

Accumulated Depreciation

Book Value
2017

$

$

$

$
2018
2019
2020
Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

In case of any Issues or doubts, please comment below

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Sheridan Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on...
Sheridan Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2022, 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, e.g. 6.251) Depreciation cost per unit $enter the depreciation cost per unit in dollars rounded to 3 decimal places eTextbook and Media   ...
Exercise 9-19 Whippet Bus Lines uses the units-of-activity method in depreciating its buses. One bus was...
Exercise 9-19 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 $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. Compute the depreciation cost per unit. (Round answer to 3 decimal places, e.g. 6.251) Depreciation cost per unit $enter the depreciation cost per unit in dollars rounded to 3 decimal places LINK TO...
In recent years, Bridgeport Transportation purchased three used buses. Because of frequent turnover in the accounting...
In recent years, Bridgeport Transportation purchased three used buses. Because of frequent turnover in the accounting department, a different accountant selected the depreciation method for each bus, and various methods were selected. Information concerning the buses is summarized as follows. Bus Acquired Cost Salvage Value Useful Life in Years Depreciation Method 1 1/1/18 $ 99,400 $ 8,000 5 Straight-line 2 1/1/18 118,000 12,000 5 Declining-balance 3 1/1/19 91,600 9,000 4 Units-of-activity For the declining-balance method, the company uses the double-declining...
Problem 9-2A (Part Level Submission) In recent years, Skysong Transportation purchased three used buses. Because of...
Problem 9-2A (Part Level Submission) In recent years, Skysong Transportation purchased three used buses. Because of frequent turnover in the accounting department, a different accountant selected the depreciation method for each bus, and various methods were selected. Information concerning the buses is shown as follows. Bus Acquired Cost Salvage Value Useful Life in Years Depreciation Method 1 1/1/17 $ 95,800 $ 7,000 5 Straight-line 2 1/1/17 130,000 10,500 4 Declining-balance 3 1/1/18 83,660 7,500 5 Units-of-activity For the declining-balance method,...
Coronado Company uses a periodic inventory system. For April, when the company sold 450 units, the...
Coronado Company uses a periodic inventory system. For April, when the company sold 450 units, the following information is available. Units Unit Cost Total Cost April 1 inventory 330 $22 $ 7,260 April 15 purchase 380 26 9,880 April 23 purchase 290 29 8,410 1,000 $25,550 (a) Correct answer iconYour answer is correct. Calculate weighted average cost per unit. (Round answer to 2 decimal places, e.g. 2.76.) Weighted average cost per unit $enter weighted average cost per unit in dollars...
Sunland Taxi Service uses the units-of-activity method in computing depreciation on its taxicabs. Each cab is...
Sunland Taxi Service uses the units-of-activity method in computing depreciation on its taxicabs. Each cab is expected to be driven 148,000 miles. Taxi no. 10 cost $38,000 and is expected to have a salvage value of $1,000. Taxi no. 10 is driven 28,500 miles in year 1 and 21,500 miles in year 2. a. Calculate depreciation cost per mile using unit-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.) Depreciation cost: $______ per mile b. Compute the depreciation for...
Splish Brothers Taxi Service uses the units-of-activity method in computing depreciation on its taxicabs. Each cab...
Splish Brothers Taxi Service uses the units-of-activity method in computing depreciation on its taxicabs. Each cab is expected to be driven 158,000 miles. Taxi no. 10 cost $35,000 and is expected to have a salvage value of $1,820. Taxi no. 10 is driven 28,500 miles in year 1 and 19,500 miles in year 2. (a1) Calculate depreciation cost per mile using unit-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.) Depreciation cost $___ per mile (b1) Determine the depreciation...
Carla Vista Monograms sells stadium blankets that have been monogrammed with high school and university emblems....
Carla Vista Monograms sells stadium blankets that have been monogrammed with high school and university emblems. The blankets retail for $43 throughout the country to loyal alumni of over 3,800 schools. Carla Vista’s variable costs are 41% of sales; fixed costs are $118,000 per month. (a1) Correct answer iconYour answer is correct. Calculate contribution margin ratio. (Round ratio to 2 percentage places, e.g. 0.38 = 38%.) Contribution margin ratio % eTextbook and Media    Attempts: 2 of 12 used (a2)...
Ivanhoe Company purchased a new machine on October 1, 2017, at a cost of $ 87,800....
Ivanhoe Company purchased a new machine on October 1, 2017, at a cost of $ 87,800. The company estimated that the machine has a salvage value of $ 8,800. The machine is expected to be used for  64,200 working hours during its  8-year life. Compute depreciation using the following methods in the year indicated. Declining-balance using double the straight-line rate for 2017 and 2018. (Round answers to 0 decimal places, e.g. 125) 2017 2018 Depreciation using the Declining-balance method $ enter a...
Exercise 9-20 Blossom Company purchased a new machine on October 1, 2017, at a cost of...
Exercise 9-20 Blossom Company purchased a new machine on October 1, 2017, at a cost of $85,000. The company estimated that the machine has a salvage value of $7,000. The machine is expected to be used for 60,000 working hours during its 8-year life. Compute depreciation using the following methods in the year indicated. Declining-balance using double the straight-line rate for 2017 and 2018. (Round answers to 0 decimal places, e.g. 125) 2017 2018 Depreciation using the Declining-balance method $enter...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT