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PIT_PIT [208]
3 years ago
12

Waymire Company sells a motor that carries a 60-day unconditional warranty against product failure. From prior years' experience

, Waymire estimates that 3% of units sold each period will require repair at an average cost of $100 per unit. During the current period, Waymire sold 73,000 units and repaired 1,000 units.
(a) How much warranty expense must Waymire report in its current period income statement?(b) What warranty liability related to current period sales will Waymire report on its current period-end balance sheet?
Business
1 answer:
MA_775_DIABLO [31]3 years ago
3 0

Answer: Income statement $100,000

Balance sheet warranty liability $Nill

Explanation:

Since we are at the end of the period and all activities has been concluded with no expectation of claim of repairs. The firm will only record the cost incurred for current period on repairs which is $100,00 ( $100*1000) . The liability will be zero since the company has taken care of all repairs for the period.

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Milk is an input in the production of cheese, and cheese and bagels are complements. A decrease in the price of milk will ______
alexandr402 [8]

Answer:

The correct answer to the following question is increase in the production of bagel .

Explanation:

Here it is given that milk is an input for cheese , and  also cheese and bagel are complementary goods, which means that there is an negative cross elasticity between cheese and bagel. So therefore when there is an decrease in the price of milk, which will also lead to decrease in price of cheese and thus, as per the negative cross elasticity when the price of one good decreases that means the production or output of other will increase and vice versa will also be true, so therefore the production of bagel would also increase.

5 0
3 years ago
An industry is composed of 10 firms, all with equal sales (e.g. firm 1 sales are 10% of the market, firm 2 sales are 10% of the
Gelneren [198K]

Answer:

0.40

Explanation:

The four firm concentration ratio = 10%+ 10% + 10% + 10% = 40% =0.40

I hope my answer helps you

5 0
3 years ago
If you have a derivative position where you might be obligated to sell Japanese yen, you are a: Group of answer choices Call opt
Nataly [62]

Answer:

The answer is B

Explanation:

The answer is B. Put option writer/seller. Put option writer has a right but not the obligation to sell an asset at a specified price while put option buyer is the reverse

Option A is wrong. Call option buyer/holder has the right but not the obligation to buy an asset at a specified price while call option writer/seller is the reverse.

7 0
3 years ago
Suzie generally prepares the majority of meals for her family. Even though she always prepares meals that are high in nutrients,
Romashka-Z-Leto [24]

The correct question should be:

Suzie generally prepares the majority of meals for her family. Even though she always prepares meals that are high in nutrients, she tends to make the same meals repeatedly. Which characteristics of a healthful diet is missing from Suzie's meal planning

Answer: Variety.

Explanation:

Suzie's meals lack variety although they are highly nutritional. Variety simply means to have different options or the absence of monotony. Suzie needs to create more types of meals rather than stick to a single pattern of meal.

7 0
3 years ago
Ashley is single and lives with Barney, her boyfriend, and Candy, his 8-year-old daughter. Ashley paid all of the support for he
julsineya [31]

Answer:

Ashley may not claim Candy as her dependant even if other requirements are met.

Explanation:

Ashley is single and lives with Barney, her boyfriend, and Candy, his 8-year-old daughter. Ashley paid all of the support for her household in 2018. Barney has earned income of $2,500 and had income tax withheld from his wages. He has no other income and is not required to file an income tax return. With one qualifying child, Barney may claim an earned income credit. Barney files an income tax return solely to obtain a refund of withheld income taxes and does not claim EIC. Because Barney does not have a filing requirement and filed only to obtain a refund of withheld income taxes, Candy is not considered the qualifying child of Barney or any other taxpayer

Based on the explanation given Ashley cannot claim Candy as an independent because of the tax payer rule. If other requirements are met, Ashley cannot claim Candy as dependent because the girl in question isn't her child . Moreover, Candy is the full responsibility of Barney. Candy is under Barney's care and is solely required by law to take care of her.

4 0
3 years ago
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