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Orlov [11]
3 years ago
11

A company begins operations in Year 1 and offers a one-year warranty on all products sold. Total appliance sales in Year 1 are $

1,600,000, and the company estimates future warranty costs in Year 2 to be 2% of current sales. Actual warranty costs in Year 2 are $25,000. Also in Year 2, the company has additional sales of $2,400,000 and revises its estimate of warranty costs associated with sales in Year 2 to be 1.5%. Exercise 8-15B Part 4 4. What is the balance in Warranty Liability at the end of Year 1 and Year 2
Business
1 answer:
Aleks04 [339]3 years ago
6 0

Answer: See explanation

Explanation:

Based on the information given in the question, the balance in Warranty Liability at the end of Year 1 and Year 2 will be calculated thus:

Balance in Warranty Liability at the end of Year 1 will be:

= $1,600,000 × 2%

= $1,600,000 × 0.02

= $32,000

Balance in Warranty Liability at the end of Year 2 will be:

= $2,400,000 × 1.5%

= $2,400,000 × 0.015

= $36,000

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b. Dr Production overhead control a/c Cr Material control account.

Explanation:

Indirect material in the production process is defined as those input that cannot be directly traced to the product. They are different from direct materials like raw materials that are used to make the product.

Indirect materials are classified as overhead.

The double entry for issue of indirect materials is:

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Question 5 of 20
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When you invest your money, it is likely that in future your purchasing power will A. go up and down.

<h3>What will happen to your purchasing power?</h3>

If you invest your money today, there is a chance that you will get back more money than you deposited, or less than you deposited.

This means that you will either have more money or less money to purchase goods and services. In other words, your purchasing power will go up and down.

Find out more on purchasing power at brainly.com/question/2286004.

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2 years ago
You are offered a job that pays ​$42000 during the first​ year, with an annual increase of 10​% per year beginning in the second
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$55,902 is the amount I can expect to earn in the fourth year

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Melanie fitzpatrick is an american expatriate assigned to england. during a business meeting in london with important local cust
melisa1 [442]
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Economy of any nation is dependant on the resources that the nation exhibits. There are generally three important types of economic resources namely; Natural Resources, Human Resources and Capital Resources.

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