Which of the following is not true regarding an asset that lasts longer than its estimated life?
a. It is not depreciated past the point at which its carrying value equals its residual value.
b. Its total accumulated depreciation will exceed its total depreciable cost.
c. If the asset is fully depreciated and its residual value is zero, its carrying value is zero.
d. Its cost and accumulated depreciation remain on the books until it is disposed of.
b
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Larry's Auto Body Repair Shop had revenues that averaged $60,000 per week in April and $50,000 per week in May. During both months, the shop employed six full-time (40 hours/week) workers. In April the firm also had four part-time workers working 25 hours per week, but in May there were only two part-time workers and they only worked 10 hours per week. What is the percentage change in labor productivity from April to May for Larry's Auto Body Repair?
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