The Happy Cereal Company includes a premium in each box of its cereal. For four premiums plus $2.00, customers are entitled to a plastic wiggle worm that costs Happy $4.50 each. Happy expects 60% of the premiums to be redeemed. In 2016, Happy sold 500,000 boxes of cereal and distributed 25,000 wiggle worms. Refer to Exhibit 9-1. What is Happy's estimated liability for unredeemed premiums on December 31, 2016?

the answer is 125,000 I just need help figuring out how to get it

John Company includes three coupons in each package of cookies it sells. In exchange for 20 coupons, a customer will receive a cookie sheet. John estimates that 30% of the coupons will be redeemed. In 2016, John sold 4,000,000 boxes of cookies and purchased 150,000 Cookie sheets at $2.50 each. During the year, 970,000 coupons were redeemed. Refer to Exhibit 9-3. What amount should John report as estimated premium claims outstanding at December 31, 2016? Answer is 328,750 need to know how to get it