Jansen Company sells a product for ($ 400) per unit, which includes a 30 -day warranty against

Question:

Jansen Company sells a product for $\$ 400$ per unit, which includes a 30 -day warranty against product defects. Experience indicates that four percent of the units sold will prove defective, requiring an average repair cost of $\$ 50$ per unit. During the first month of business, product sales were $\$ 320,000$, and 20 of the units sold were found to be defective and repaired during the month. What is the accrued liability for product warranties at month-end?

a. $\$ 1,000$

b. $\$ \$ 600$

c. $\$ 1,600$

d. $\$ 2,000$

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