TechGear Electronics sold 400 smartwatches for $300 each during May. Each smartwatch costs TechGear $150 to manufacture and comes with a two-year warranty. If 5% typically need to be replaced over the warranty period, and eight are actually replaced during May, for what amount in May should TechGear debit Product Warranty Expense? a. $3,000 b. $1,200 c. $4,500 d. $2,400

Excom sells radios, and each unit carries a two-year replacement warranty. The cost repair defects under the warranty is estimated at 5% of the sales price. During September, Excom sells 100 radios for $50 each. One radio is actually replaced during September. For what amount in September would Excom debit Product Warranty Expense? a. $50 b. $250 c. $30 d. $120 e. None of the above.

Excom sells radios and each unit carries a two-year replacement warranty. The cost of repair defects under the warranty is estimated at 5% of the sales price. During September, Excom sells 155 radios for $50 each. One radio is actually replaced during September. For what amount in September would Excom debit Product Warranty Expense? a.$22 b.$388 c.$3,410 d.$50

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Modem Appliances, Inc. sells food processors for $150 with a 120-day warranty against defects. Past experience indicates that 5% of the processors will have some defect during the warranty period and that the necessary repairs and adjustments will cost $25 per defective unit. Sales for August are $225,000. What is the estimated liability for product warranties for units sold in August? Select one: a. $3,000 b. $1,800 C. $11,250 d. $1,875 e. None of the above

Vishal

Blue Jay, Inc., manufactures and sells computer monitors with a three-year warranty.Warranty costs are expected to average 7% of sales during the warranty period. The followingtable shows the sales and actual warranty payments during the first two years of operations:Year Sales Warranty Payments2018 $650,000 $ 5,8502019 850,000 42,500Based on these facts, what amount of warranty liability should Blue Jay, Inc., report on itsbalance sheet at December 31, 2019?a. $48,350b. $56,650c. $105,000d. $42,500

Keaton Inc. sells stability balls for $30/each. Each ball comes with a two year warranty. Keaton accrues warranty expense at a rate of 1.5% of sales dollars. Their cost to replace damaged and defective stability balls under warranty is $7 per ball. In June 2023, Keaton sold 1,000 stability balls. What is the dollar value of Keaton's June sales? How much should cooper record was Warranty Expense for June? Prepare the journal entry to record June's Warranty Expense. DR: CR: In the month of August, 2023, 25 balls were returned under the warranty. Prepare the journal entry to record the replacement of the returned balls. DR: CR:

A new product introduced by Reyes Promotions carries a two-year warranty against defects. The estimated warranty costs related to peso sales are as follows: Year of sale.. .3% Year after sale..... .5% Sales and actual warranty expenditures for the years ended December 31, 2020 and 2021 are as follows: Sales 800,000 1,000,000 Expenditures 12,000 70,000 2020 2021 11. How much is the warranty expense in 2021? 12. How much is the estimated liability as of December 31, 2021? Assume the 2020 warranty did not yet expire.

Assume that you start with a balance of $3900 on your credit card.During the first month you charge $400. During the second month you charge $650 and make a payment of $280. Assume that your credit card charges a 29% APR and each month you make the minimum payment of 2.5% of the balance. Complete the following table. Round your answer to the nearest cent. Month 1 Previous balance- $3900 Finance charge- $94.25 Purchase- 400 Payment ?97.50 New balance? Month 2 Previous balance- finance charge- purchase- payments- New balance