Norwood, Inc purchased a crane at a cost of $80,000 . The crane has an estimated residual value of $5,000 and an estimated life of 8 years, or 12,500 hours of operation. The crane was purchased on January 1, 2015 and was used 2,700 hours in 2015 and 2,600 hours in 2016. Refer to the information for Norwood, Inc Based on this information, what method of depreciation will produce the maximum
depreciation expense in 2015?
a. Straight-line
b. Double-declining-balance
c. Units-of-production
d. All methods produce the same expense in 2015.
b
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Which of the following is not a method used by the Environmental Protection Agency (EPA) to enforce its regulations?
A. permits B. mandatory arbitration C. criminal complaints D. administrative fines
The components of a larger system are called _____.
Fill in the blank(s) with the appropriate word(s).
Moreland Manufacturing Inc Moreland Manufacturing Inc produces and sells stainless steel faucets. In the current year, the company had budgeted for the production and sale of 6,000 faucets but, due to unexpected demand, 7,000 faucets were actually produced and sold. Each faucet has a standard requiring 15 ounces of direct material at a cost of $.40 per ounce and 15 minutes of assembly time at a
cost of $.20 per minute. Actual costs for the production of 7,000 faucets were $41,359.50 for materials (106,050 ounces purchased and used @ $.39 per ounce) and $21,560 for labor (98,000 minutes @ $.22 per minute). Refer to the Moreland Manufacturing Inc information above. Moreland's direct materials price variance is: A) $1,050.00 F. B) $1,050.00 U. C) $1,060.50 F. D) $1,060.50 U.
Compare and contrast the three types of product modifications and give an example of how each could be implemented.
What will be an ideal response?