Question : 91. Using the double-declining balance method, the book value at : 1255957

91. Using the double-declining balance method, the book value at December 31, 2016 would be:

a.$21,600.

b.$24,800.

c.$36,000.

d.$45,600.

92. A machine has a cost of $15,000, an estimated residual value of $3,000, and an estimated useful life of four years. The machine is being depreciated on a straight-line basis. At the end of the second year, what amount will be reported for accumulated depreciation?

$9,000.

$6,000.

$7,500.

$3,000.

93. A building was purchased for $50,000. The asset has an expected useful life of 6 years and depreciation expense each year is $8,000 using the straight-line method. What is the residual value of the building?

$0.

$2,000.

$4,000.

$6,000.

94. Bricker Enterprises purchased a machine for $100,000 on October 1, 2015. The estimated service life is ten years with a $10,000 residual value. Bricker records partial-year depreciation based on the number of months in service. Depreciation expense for the year ended December 31, 2015, using straight-line depreciation, is:

a.$1,500.

b.$7,500.

c.$ 2,250.

d.$ 2,500.

95. Schager Company purchased a computer system at a cost of $40,000. The estimated useful life is 10 years, and the estimated residual value is $5,000. Assuming the company will use the double-declining-balance method, what is the depreciation expense for the second year?

$8,000.

$7,000.

$5,600.

$6,400.

96. Shasta Exploring purchases a piece of equipment for $50,000 and the equipment has an expected useful life of five years. Its residual value is estimated to be $4,000. Assuming Shasta uses the double-declining balance depreciation method, what is the depreciation expense for the equipment for the second full year?

$9,200.

$9,040.

$12,000.

$11,040.

97. During the first two years, Supplies, Inc. drove the truck 15,000 and 22,000 miles, respectively, to deliver merchandise to its customers. The company originally purchased the truck for $175,000. If the truck has an estimated life of 10 years or 300,000 miles, with an estimated residual value of $25,000, what amount of deprecation expense should Supplies, Inc. record in the second year using the activity-based method?

$11,000.

$18,500.

$7,500.

$16,000.

98. Crestview Estates purchased a tractor on January 1, 2015, for $65,000. The tractor’s useful life is estimated to be 30,000 miles and has a residual value of $5,000. If Crestview used the tractor 5,000 miles in 2015 and 3,000 miles in 2016, what is the balance for accumulated depreciation at the end of 2016 using the activity-based method?

$38,000.

$6,000.

$16,000.

$10,000.

99. Nanki Corporation purchased equipment at the beginning of 2015 for $650,000. In 2015 and 2016, Nanki depreciated the asset on a straight-line basis with an estimated useful life of 8 years and a $10,000 residual value. In 2017, due to changes in technology, Nanki revised the useful life to a total of six years (four more years) with zero residual value. What depreciation expense would Nanki record for the year 2017 on this equipment?

a.$108,333.

b.$106,667.

c.$122,500.

d.$81,667.

100. Which of the following intangible assets is not amortized?

a.Patents.

b.Copyrights.

c.Franchises.

d.Goodwill.

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July 1, 2023

135.Use the following data to determine the cost of goods manufactured.

Beginning finished goods inventory$10,800

Direct labor30,600

Beginning work in process inventory7,200

General and administrative expenses13,500

Direct materials used40,500

Ending work in process inventory9,000

Indirect labor6,300

Ending finished goods inventory9,500

Indirect materials13,500

Depreciation—factory equipment7,500

A.$102,000.

B.$110,100.

C.$96,600.

D.$113,700.

E.$100,200.

136.Use the following data to compute total factory overhead costs for the month.

Sales commissions10,800

Direct labor39,600

Indirect materials15,200

Factory manager salaries7,200

Factory supplies9,000

Indirect labor6,300

Depreciation—office equipment5,000

Direct materials40,500

Corporate office salaries42,500

Depreciation—factory equipment7,500

A.$141,100.

B.$125,300.

C.$45,200.

D.$84,800.

E.$58,300.

137.Use the following data to compute total manufacturing costs for the month.

Sales commissions10,800

Direct labor39,600

Indirect materials15,200

Factory manager salaries7,200

Factory supplies9,000

Indirect labor6,300

Depreciation—office equipment5,000

Direct materials40,500

Corporate office salaries42,500

Depreciation—factory equipment7,500

A.$141,100.

B.$125,300.

C.$45,200.

D.$84,800.

E.$58,300.

138.Use the following information to compute the cost of goods manufactured:

Beginning raw materials$5,500

Ending raw materials4,000

Direct labor12,250

Raw material purchases7,400

Depreciation on factory equipment6,500

Factory repairs and maintenance3,300

Beginning finished goods inventory10,200

Ending finished goods inventory8,900

Beginning work in process inventory5,700

Ending work in process inventory6,300

A.$36,650.

B.$30,950.

C.$30,650.

D.$30,350.

E.$31,650.

139.The following information pertains to the Packer Corporation. Calculate the cost of goods sold for the period:

Beginning Raw Materials$30,000

Ending Raw Materials$70,000

Beginning Work in Process Inventory$40,000

Ending Work in Process Inventory$46,000

Beginning Finished Goods Inventory$72,000

Ending Finished Goods Inventory$68,000

Cost of Goods Manufactured for the period$246,000

A.$250,000.

B.$290,000.

C.$242,000.

D.$258,000.

E.$246,000.

140.The following information pertains to the Frameworks Corporation for May. Calculate the cost of goods sold for the period:

Beginning Finished Goods Inventory$19,500

Ending Finished Goods Inventory$18,000

Cost of Goods Manufactured$126,800

A.$164,300.

B.$126,800.

C.$125,300.

D.$146,300.

E.$128,300.

141.Using the information below, calculate the cost of goods manufactured for the period.

Beginning Raw Materials Inventory$25,000

Ending Raw Materials Inventory$30,000

Beginning Work in Process Inventory$55,000

Ending Work in Process Inventory$64,000

Beginning Finished Goods Inventory$80,000

Ending Finished Goods Inventory$67,000

Cost of Goods Sold for the period$540,000

Sales revenues for the period$1,254,000

Operating expenses for the period$232,000

A.$553,000.

B.$536,000.

C.$549,000.

D.$527,000.

E.$525,000.

142.Using the information below, calculate gross profit for the period.

Beginning Raw Materials Inventory$25,000

Ending Direct Materials Inventory$30,000

Beginning Work in Process Inventory$55,000

Ending Work in Process Inventory$64,000

Beginning Finished Goods Inventory$80,000

Ending Finished Goods Inventory$67,000

Cost of Goods Sold for the period$540,000

Sales revenues for the period$1,254,000

Operating expenses for the period$232,000

A.$714,000.

B.$482,000.

C.$1,022,000.

D.$187,000.

E.$727,000.

143.Using the information below, calculate cost of goods sold for the period.

Sales revenues for the period$1,304,000

Operating expenses for the period$239,000

Finished Goods Inventory, January 136,000

Finished Goods Inventory, December 3141,000

Cost of goods manufactured for the period$540,000

A.$774,000.

B.$769,000.

C.$530,000.

D.$535,000.

E.$448,000.

144.Using the information below, calculate gross profit for the period.

Sales revenues for the period$1,304,000

Operating expenses for the period$239,000

Finished Goods Inventory, January 136,000

Finished Goods Inventory, December 3141,000

Cost of goods manufactured for the period$540,000

A.$774,000.

B.$769,000.

C.$530,000.

D.$535,000.

E.$448,000.

July 1, 2023

135.Use the following data to determine the cost of goods manufactured.

Beginning finished goods inventory$10,800

Direct labor30,600

Beginning work in process inventory7,200

General and administrative expenses13,500

Direct materials used40,500

Ending work in process inventory9,000

Indirect labor6,300

Ending finished goods inventory9,500

Indirect materials13,500

Depreciation—factory equipment7,500

A.$102,000.

B.$110,100.

C.$96,600.

D.$113,700.

E.$100,200.

136.Use the following data to compute total factory overhead costs for the month.

Sales commissions10,800

Direct labor39,600

Indirect materials15,200

Factory manager salaries7,200

Factory supplies9,000

Indirect labor6,300

Depreciation—office equipment5,000

Direct materials40,500

Corporate office salaries42,500

Depreciation—factory equipment7,500

A.$141,100.

B.$125,300.

C.$45,200.

D.$84,800.

E.$58,300.

137.Use the following data to compute total manufacturing costs for the month.

Sales commissions10,800

Direct labor39,600

Indirect materials15,200

Factory manager salaries7,200

Factory supplies9,000

Indirect labor6,300

Depreciation—office equipment5,000

Direct materials40,500

Corporate office salaries42,500

Depreciation—factory equipment7,500

A.$141,100.

B.$125,300.

C.$45,200.

D.$84,800.

E.$58,300.

138.Use the following information to compute the cost of goods manufactured:

Beginning raw materials$5,500

Ending raw materials4,000

Direct labor12,250

Raw material purchases7,400

Depreciation on factory equipment6,500

Factory repairs and maintenance3,300

Beginning finished goods inventory10,200

Ending finished goods inventory8,900

Beginning work in process inventory5,700

Ending work in process inventory6,300

A.$36,650.

B.$30,950.

C.$30,650.

D.$30,350.

E.$31,650.

139.The following information pertains to the Packer Corporation. Calculate the cost of goods sold for the period:

Beginning Raw Materials$30,000

Ending Raw Materials$70,000

Beginning Work in Process Inventory$40,000

Ending Work in Process Inventory$46,000

Beginning Finished Goods Inventory$72,000

Ending Finished Goods Inventory$68,000

Cost of Goods Manufactured for the period$246,000

A.$250,000.

B.$290,000.

C.$242,000.

D.$258,000.

E.$246,000.

140.The following information pertains to the Frameworks Corporation for May. Calculate the cost of goods sold for the period:

Beginning Finished Goods Inventory$19,500

Ending Finished Goods Inventory$18,000

Cost of Goods Manufactured$126,800

A.$164,300.

B.$126,800.

C.$125,300.

D.$146,300.

E.$128,300.

141.Using the information below, calculate the cost of goods manufactured for the period.

Beginning Raw Materials Inventory$25,000

Ending Raw Materials Inventory$30,000

Beginning Work in Process Inventory$55,000

Ending Work in Process Inventory$64,000

Beginning Finished Goods Inventory$80,000

Ending Finished Goods Inventory$67,000

Cost of Goods Sold for the period$540,000

Sales revenues for the period$1,254,000

Operating expenses for the period$232,000

A.$553,000.

B.$536,000.

C.$549,000.

D.$527,000.

E.$525,000.

142.Using the information below, calculate gross profit for the period.

Beginning Raw Materials Inventory$25,000

Ending Direct Materials Inventory$30,000

Beginning Work in Process Inventory$55,000

Ending Work in Process Inventory$64,000

Beginning Finished Goods Inventory$80,000

Ending Finished Goods Inventory$67,000

Cost of Goods Sold for the period$540,000

Sales revenues for the period$1,254,000

Operating expenses for the period$232,000

A.$714,000.

B.$482,000.

C.$1,022,000.

D.$187,000.

E.$727,000.

143.Using the information below, calculate cost of goods sold for the period.

Sales revenues for the period$1,304,000

Operating expenses for the period$239,000

Finished Goods Inventory, January 136,000

Finished Goods Inventory, December 3141,000

Cost of goods manufactured for the period$540,000

A.$774,000.

B.$769,000.

C.$530,000.

D.$535,000.

E.$448,000.

144.Using the information below, calculate gross profit for the period.

Sales revenues for the period$1,304,000

Operating expenses for the period$239,000

Finished Goods Inventory, January 136,000

Finished Goods Inventory, December 3141,000

Cost of goods manufactured for the period$540,000

A.$774,000.

B.$769,000.

C.$530,000.

D.$535,000.

E.$448,000.

July 1, 2023

135.Use the following data to determine the cost of goods manufactured.

Beginning finished goods inventory$10,800

Direct labor30,600

Beginning work in process inventory7,200

General and administrative expenses13,500

Direct materials used40,500

Ending work in process inventory9,000

Indirect labor6,300

Ending finished goods inventory9,500

Indirect materials13,500

Depreciation—factory equipment7,500

A.$102,000.

B.$110,100.

C.$96,600.

D.$113,700.

E.$100,200.

136.Use the following data to compute total factory overhead costs for the month.

Sales commissions10,800

Direct labor39,600

Indirect materials15,200

Factory manager salaries7,200

Factory supplies9,000

Indirect labor6,300

Depreciation—office equipment5,000

Direct materials40,500

Corporate office salaries42,500

Depreciation—factory equipment7,500

A.$141,100.

B.$125,300.

C.$45,200.

D.$84,800.

E.$58,300.

137.Use the following data to compute total manufacturing costs for the month.

Sales commissions10,800

Direct labor39,600

Indirect materials15,200

Factory manager salaries7,200

Factory supplies9,000

Indirect labor6,300

Depreciation—office equipment5,000

Direct materials40,500

Corporate office salaries42,500

Depreciation—factory equipment7,500

A.$141,100.

B.$125,300.

C.$45,200.

D.$84,800.

E.$58,300.

138.Use the following information to compute the cost of goods manufactured:

Beginning raw materials$5,500

Ending raw materials4,000

Direct labor12,250

Raw material purchases7,400

Depreciation on factory equipment6,500

Factory repairs and maintenance3,300

Beginning finished goods inventory10,200

Ending finished goods inventory8,900

Beginning work in process inventory5,700

Ending work in process inventory6,300

A.$36,650.

B.$30,950.

C.$30,650.

D.$30,350.

E.$31,650.

139.The following information pertains to the Packer Corporation. Calculate the cost of goods sold for the period:

Beginning Raw Materials$30,000

Ending Raw Materials$70,000

Beginning Work in Process Inventory$40,000

Ending Work in Process Inventory$46,000

Beginning Finished Goods Inventory$72,000

Ending Finished Goods Inventory$68,000

Cost of Goods Manufactured for the period$246,000

A.$250,000.

B.$290,000.

C.$242,000.

D.$258,000.

E.$246,000.

140.The following information pertains to the Frameworks Corporation for May. Calculate the cost of goods sold for the period:

Beginning Finished Goods Inventory$19,500

Ending Finished Goods Inventory$18,000

Cost of Goods Manufactured$126,800

A.$164,300.

B.$126,800.

C.$125,300.

D.$146,300.

E.$128,300.

141.Using the information below, calculate the cost of goods manufactured for the period.

Beginning Raw Materials Inventory$25,000

Ending Raw Materials Inventory$30,000

Beginning Work in Process Inventory$55,000

Ending Work in Process Inventory$64,000

Beginning Finished Goods Inventory$80,000

Ending Finished Goods Inventory$67,000

Cost of Goods Sold for the period$540,000

Sales revenues for the period$1,254,000

Operating expenses for the period$232,000

A.$553,000.

B.$536,000.

C.$549,000.

D.$527,000.

E.$525,000.

142.Using the information below, calculate gross profit for the period.

Beginning Raw Materials Inventory$25,000

Ending Direct Materials Inventory$30,000

Beginning Work in Process Inventory$55,000

Ending Work in Process Inventory$64,000

Beginning Finished Goods Inventory$80,000

Ending Finished Goods Inventory$67,000

Cost of Goods Sold for the period$540,000

Sales revenues for the period$1,254,000

Operating expenses for the period$232,000

A.$714,000.

B.$482,000.

C.$1,022,000.

D.$187,000.

E.$727,000.

143.Using the information below, calculate cost of goods sold for the period.

Sales revenues for the period$1,304,000

Operating expenses for the period$239,000

Finished Goods Inventory, January 136,000

Finished Goods Inventory, December 3141,000

Cost of goods manufactured for the period$540,000

A.$774,000.

B.$769,000.

C.$530,000.

D.$535,000.

E.$448,000.

144.Using the information below, calculate gross profit for the period.

Sales revenues for the period$1,304,000

Operating expenses for the period$239,000

Finished Goods Inventory, January 136,000

Finished Goods Inventory, December 3141,000

Cost of goods manufactured for the period$540,000

A.$774,000.

B.$769,000.

C.$530,000.

D.$535,000.

E.$448,000.

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Question : 91. Using the double-declining balance method, the book value at : 1255957

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