[The following information applies to the questions displayed below] On October 29, Lobo Company began operations by purchasing razors for resale. The razors have a 90-day warranty. When a razor is returned, the company discards it and mails a new one from Merchandise Inventory to the customer. The company's cost per new razor is $20 and its retall selling price is \$75. The company expects warranty costs to equal 8% of dollar sales. The following transactions occurred Noventer 21 sold 165 razors for 57,675 cash Wovesben ae Recognized warranty expense relatid to Novebber sales aith an adjusting entry. Decepbec 3 heplaced 15 razors that were ceturned wnder the marranty. Becenber 15 sold 220 razors for 916,56chan. Decenher 29 Replacted a0 razbrs that were ceturned unden the warranty. Mahuary : 5 sold 150 razons for 511,250cash. asogary 17 heplaced 50 cazors that wern ceturned unden the warcanty. Jsouary 3i mecognized warranty expenso related to daniary sales with an adjust ing ectry. 2. How much warranty expense is reported for November and for December