Munson Company switched from the sum-of-the-years-digits depreciation method to straight-line depreciation in 2022. The change affects machinery purchased at the beginning of 2020 at a cost of $82,500. The machinery has an estimated life of five years and an estimated residual value of $4,125. What is Munson's 2022 depreciation expense?

Annual depreciation= $15,675

Explanation:

Giving the following information:

The change affects machinery purchased at the beginning of 2020 for $82,500. The machinery has an estimated life of five years and an estimated residual value of $4,125.

To calculate the depreciation expense under the straight-line method, we need to use the following formula:

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (82,500 - 4,125)/5

Annual depreciation= $15,675

The depreciation expense is constant through the useful life.

answer; blank (1) hrm specialists,blank(2); line managers;

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know