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vredina [299]
3 years ago
11

In 2017, Scranton, Inc. sold 2,000 carpets for $50 each. The carpets carry a two-year warranty for repairs. Scranton estimates t

hat repair costs will average 3% of the total selling price. What amount would be recorded in the warranty liability account as a result of selling the carpets during 2017
Business
1 answer:
vodomira [7]3 years ago
8 0

Answer:

$3,000

Explanation:

Inventory Sold   2,000*$50=$100,000

Warranty Expense $100,000*3%=$3,000

Therefore $3,000 would be reported in warranty liability account.

When any claim for warranty is reported,the liability will be set off by debiting it and corresponding effect to inventory or stores will be taken.

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3 years ago
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makvit [3.9K]

Answer:

Customer-focused compensation strategy

Explanation:

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3 years ago
As part of his 401(k) retirement plan at work, Ken Lowery invests 6.0 percent of his salary each month in the Capital Investment
Gnesinka [82]

Answer:

The amount of the fee is $1689.60

Explanation:

The computation of the amount of the fee is shown below:

= Dollar value × fund charges a 12b-1 fee

= $211,200 × 0.8%

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= $1689.60

Since the question has asked the fee amount so we consider the fee charges percentage, not the capital investment Lifecycle fund. Thus, we ignore the Capital Investments Lifecycle Fund as it is not relevant.

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8 0
3 years ago
A company makes tools, such as hammer and tape measures. One of their primary raw materials is steel and if they run out of stee
Sedbober [7]

Answer:

D. continuous review system

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In the context of manufacturing it seems that the system being described would be a continuous review system. Like mentioned in the question this is a system that automatically adjusts the stock level in real time when a product moves in or out of stock, and automatically triggers an order for more stock as soon as the stock level hits a low quantity point is hit.

3 0
3 years ago
Purchasing power parity does not hold in the short to medium run because:____.
maria [59]

Answer:

some goods aren't internationally traded

Explanation:

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The purchasing power does not hold good in the short to the medium run as different countries produces different goods and as such all the goods are not internally traded all over the locations or countries.

8 0
3 years ago
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