A company purchased a machine for 0.54 X in 2020, which is expected to have: - A useful life of 10 years Salvage value of 0.05 X Production of X units Number of working hours of 0.12 x During 2020, ABC used the machine for 0.01 X hours to produce 0.09 X units. From the information given, compute the book depreciation expense for 2020 under each of the following methods: (a) Units of production (b) Working hours Please do fast ASAP fast

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Depreciation Methods

The word "depreciation" is defined as an accounting method wherein the cost of tangible assets is spread over its useful life and it usually denotes how much of the assets value has been used up. The depreciation is usually considered as an operating expense. The main reason behind depreciation includes wear and tear of the assets, obsolescence etc.

Depreciation Accounting

In terms of accounting, with the passage of time the value of a fixed asset (like machinery, plants, furniture etc.) goes down over a specific period of time is known as depreciation. Now, the question comes in your mind, why the value of the fixed asset reduces over time.