Financial & Managerial Accting MBA-560 test 3

Problem 1. Maple Company started the year with no inventory.
During the year, it purchased two identical inventory items at different times.
The first unit cost $800 and the second, $700. One of the items was sold during
the year.
on this information, how much product cost would be allocated to cost of goods
sold and ending inventory, assuming use of:

c. Weighted average

Cost of goods sold

Ending inventory



Weighted Average

Problem 2. Teague Company purchased a new machine on January 1,
2012, at a cost of $150,000. The machine is expected to have an eight-year life
and a $15,000 salvage value. The machine is expected to produce 675,000
finished products during its eight-year life. Smith produced 70,000 units in
2012 and 110,000 units during 2013.


1) Determine the amount of depreciation expense to be recorded on the machine
for the years 2012 and 2013 under each of the following methods:



a) Straight-line method

b) Units of production method

c) Double-declining balance method

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