Question
7. Panther Co. had a quality-assurance warranty liability of $356,000 at the beginning of 2018 and $313,000 at the end of 2018. Warranty expense is
7. Panther Co. had a quality-assurance warranty liability of $356,000 at the beginning of 2018 and $313,000 at the end of 2018. Warranty expense is based on 2% of sales, which were $40 million for the year. What were the warranty expenditures for 2018?
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Cost Accounting Concepts And Applications For Managerial Decision Making
Authors: Ralph S. Polimeni, James A. Cashin, Frank J. Fabozzi, Arthur H. Adelberg
2nd Edition
0070103100, 978-0070103108
