A machine costing $450,000 with a four-year life and an estimated $30,000 residual value is installed by Lux Company on January 1. The factory estimates the machine will produce 1,050,000 units of product during its life. It actually produces the following units for the first 2 years: Year 1, 260,000; Year 2, 275,000. Enter the depreciation amounts for years 1 and 2 in the table below for each depreciation method. Show calculation of amounts below the table.
Definitions:
Harold Kelley
a social psychologist known for his contributions to attribution theory, which explains how individuals infer the causes of other people's behavior.
Consensus Information
Information or belief that is widely accepted and agreed upon by a majority of members within a particular group or community.
External Attribution
Assigning the cause of one's own or another's behavior to external factors or situations beyond the individual's control.
Kelley's Terminology
Refers to concepts and nomenclature introduced by psychologist Harold Kelley, particularly in relation to attribution theory.
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