During 2016 Green Thumb Company introduced a new line of garden shears that carry a two-year warranty against defects. Experience indicates that warranty costs should be 2% of net sales in the year of sale and 3% in the year after sale. Net sales and actual warranty expenditures were as follows:
Net
sales Actual warranty expenditures
2016 $ 45,000 $ 1,000
2017 120,000 3,500
At December 31, 2017, Green Thumb should report as a warranty liability of:
a.$900
b.$1,250
c.$3,750
d.$4,500
Answers: 1
Business, 22.06.2019 16:40
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Business, 22.06.2019 17:50
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Business, 22.06.2019 19:20
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Business, 22.06.2019 21:10
Krier industries has just completed its sales forecasts and its marketing department estimates that the company will sell 43,800 units during the upcoming year. in the past, management has maintained inventories of finished goods at approximately 3 months' sales. however, the estimated inventory at the start of the year of the budget period is only 7,300 units. sales occur evenly throughout the year. what is the estimated production level (units) for the first month of the upcoming budget year?
Answers: 3
During 2016 Green Thumb Company introduced a new line of garden shears that carry a two-year warrant...
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