Solve the Problem. Round to the Nearest Dollar

question 80

Multiple Choice

Solve the problem. Round to the nearest dollar.
-SLM Instruments bought a metal punch machine at a cost of $8,700. The expected life is 5,000 hours
Of production with a salvage value of $870. Find the book value at the end of the third year. Use the
Units-of-production method of depreciation given the following production schedule.
Year 1 -1,150 hours
Year 2- 1,580 hours
Year 3- 1,280 hours

• A)$1,534
• B)$1,723
• C)$2,404
• D)$6,296

Understand the importance and benefits of involving multiple levels of management in the budgeting process.

Recognize the positive impact of budgeting on employee motivation and performance evaluation.

Comprehend the sequence and interdependencies of various components within a master budget.

Appreciate the importance of a formalized budget as a statement of future plans in monetary terms.

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Definitions:

Eye

The organ of vision that detects light and sends signals through the optic nerve to the brain.

Brain

The central organ of the nervous system, located in the skull, responsible for controlling most functions of the body and mind.

Taste Sensations

The perception of taste categorized mainly into five basic tastes: sweetness, sourness, saltiness, bitterness, and umami.

Optic Nerve

A cranial nerve that transmits visual signals from the retina to the brain.