Norwood, Inc

question 203

Multiple Choice

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, 2016 and was used 2,700 hours in 2016 and 2,600 hours in 2017.
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-Refer to the information about Norwood, Inc. If Norwood uses the units-of-production method, what is the depreciation rate per hour for the equipment?

• A) $4.00
• B) $5.00
• C) $6.00
• D) $7.50

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Definitions:

Stakeholder Ethics

Principles and guidelines that govern the interactions and responsibilities of individuals or organizations towards those who have an interest or stake in a project, outcome, or business.

Johnson & Johnson

Johnson & Johnson is a multinational corporation founded in 1886 that develops medical devices, pharmaceutical, and consumer packaged goods.

Employees

Individuals who work for someone else or for a company in exchange for compensation.

Citizenship Efforts

Activities undertaken by individuals that go beyond their basic job requirements to contribute positively to the organization's environment.