Wickland Company installs a manufacturing machine in its production facility at the beginning of the year at a cost of $154,000. The machine's useful life is estimated to be 5 years, or 370,000 units of product, with a $6,000 salvage value. During its second year, the machine produces 59,200 units of product. Determine the machines' second year depreciation under the straight-line method

Using the straight-line method, depreciation expense for the second year would be:  $29,600

Explanation:

Depreciation Straight Line Method= Cost - Salvage Value/ Useful Life

Wickland Company

Cost of machine  $154,000

Residual value of $6,000

Useful Life = 5 years

Formula

Depreciation Straight Line Method= Cost - Salvage Value/ Useful Life

Working:

Depreciation Straight Line Method= $154,000 -$6,000/5

Depreciation Straight Line Method= 148,000 /5

Depreciation Straight Line Method=$ 29,600

Using the straight-line method, depreciation expense for the second year would be:  $29,600

The straight line depreciation method assigns equal depreciation to the machinery. So the depreciation for the five years would be the same amounting to $ 29,600 every year.

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