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i posted this and and it was wrong please dont put alot of numbers product warranty expense: estimated liability for product warranty: Warranty Costs Brigham
i posted this and and it was wrong please dont put alot of numbers product warranty expense: estimated liability for product warranty: Warranty Costs Brigham Company sells an electric timer that carries a three-month unconditional warranty against product failure. Based on a reliable statistical analysis, Brigham knows that between the sale and the end of the product warranty period, three percent of the units sold will require repair at an average cost of $35 per unit. The following data reflect Brigham's recent experience: ving October November December Dec 31 Total 42.000 40,000 51,000 133,000 ortad Units sold Known product failures from sales in: October November December 320 550 230 210 360 1,080 590 410 Pictu 410 Major Calculate, and prepare a journal entry to record, the estimated liability for product warranties at December 31. Assume that warranty costs of known failures have already been reflected in the records. General Journal Date Description Debit Credit Dec.31 Product Warranty Expense $728.000 $ O Estimated Liability for Product Warranty 37,800 M To provide for estimated future warranty expense Check
i posted this and and it was wrong please dont put alot of numbers
product warranty expense:
estimated liability for product warranty:
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