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kow [346]
3 years ago
12

A company has a selling price of $2,300 each for its printers. Each printer has a 2 year warranty that covers replacement of def

ective parts. It is estimated that 3% of all printers sold will be returned under the warranty at an average cost of $160 each. During November, the company sold 40,000 printers, and 500 printers were serviced under the warranty at a total cost of $65,000. The balance in the Estimated Warranty Liability account at November 1 was $34,000. What is the company's warranty expense for the month of November
Business
1 answer:
Basile [38]3 years ago
7 0

Answer:

The correct answer is $192,000.

Explanation:

According to the scenario, computation of the given data are as follows:

Returned average cost = $160

Printers sold = 40,000

Return percentage = 3%

So, we can calculate the company's warranty expense by using following formula:

Warranty expense = Returned average cost × Printers sold  × Return percentage

= $160 × 40,000 × 3%

= 6,400,000 × 3%

= $192,000

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2 years ago
Compare a market operating at a quantity lower than equilibrium with the same market operating at the equilibrium quantity. Whic
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Answer:

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The slope of the _________________ is determined by the relative price of the two goods, which is calculated by taking the price
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3 years ago
Juniper Enterprises sells handmade clocks. Its variable cost per clock is $16.80, and each clock sells for $28. Calculate Junipe
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Answer:

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To break-even means making sales where the proceeds from sales transactions equal the amount of total costs incurred,hence no gain no loss situation.

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