Assume that Bryd uses the units of production method when depreciating its equip

Question

Assume that Bryd uses the units of production method when depreciating its equipment. Bryd estimated that the purchases equipment will produce 1,150,000 units over its 5-year useful life and has salvage value of $8,500. Bryd produced 300,500 units with the equipment by the end of the first year of purchase. (Round your answer to the nearest whole number.) Which amount below is cloest to the amount Bryd will record for depreciation expense for the equipment in the first year? * The answer is $70,485 but show work to get answer.

Explanation / Answer

depreciation expense for the equipment in the first year=Purchase cost-salvage value/1,150,000 units * 300,500 units

here purchase cost not given in the question

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