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Questions and Answers
What is the total estimated output of the plant and equipment?
What is the total estimated output of the plant and equipment?
- 20 million units (correct)
- 25 million units
- 30 million units
- 15 million units
How many units were produced during the current period?
How many units were produced during the current period?
- 2 000 000 units
- 2 250 000 units
- 1 500 000 units
- 1 750 000 units (correct)
What is the method used to depreciate the plant and equipment?
What is the method used to depreciate the plant and equipment?
- Straight-line method
- Sum of the unit's method (correct)
- Double-declining balance method
- Reduction in value method
When was the plant and equipment purchased?
When was the plant and equipment purchased?
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What is the purpose of estimating the total output of the plant and equipment?
What is the purpose of estimating the total output of the plant and equipment?
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Study Notes
Depreciation of Plant and Equipment
- Depreciation method used: Sum of unit's method
- Total estimated output of the plant and equipment: 20 million units
- Units produced during the current period: 1 750 000 units
- Date of purchase of plant and equipment: Same date during the previous financial year
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Description
Calculate the depreciation of plant and equipment using the sum of unit's method. The total estimated output is 20 million units and 1,750,000 units were produced during the current period.
