A stone and gravel quarry in Texas can use a
Chapter 16, Problem 16.55(choose chapter or problem)
A stone and gravel quarry in Texas can use a percentagedepletion rate of 5% of gross income, or acost depletion rate of $1.28 per ton. Quarry firstcost = $3.2 million; estimated total tonnage = 2.5million tons; tonnage this year = 65,000; gross income= $40 per ton. Of the two depletion charges,the method and larger amount are: (a) Percentage at $83,200 (b) Percentage at $130,000 (c) Cost at $80,000 (d) Cost at $130,000
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