With the end goal of attracting as much customers as possible in the NCR region, Abenson Appliance Company engaged in a customer satisfaction program and marketing strategy for two of their major lines of product: (1) electrical appliance and (2) household and office furniture. All branches in the region are participating in the companys promotions. In the customer satisfaction program, Abenson Company provides one-year warranty for replacement of parts and labor of the electrical appliance sold. Based on past experience, the estimate warranty cost is 3% of sales. During 2021, total sales of electrical appliances was P7,200,000. Replacement parts and labor for warranty work totaled P184,000 during 2021. In the companys marketing strategy for the household and office furniture section, customers are given a coupon for every P1,000 spent on these items. Customers may exchange 10 coupons plus P500 for a hot and cold water dispenser. Each water dispenser cost Abenson Company P1,200 and estimates that 40% of the coupons given to the customers will be redeemed. During 2021, sales of household and office furniture totaled P2,600,000. A total of 100 water dispensers used in the promo were purchased and there were 800 coupons redeemed in 2021. The accrual method is used by Abenson to account for the warranty and premium costs for financial reporting purposes. The balance in the accounts related to warranties and premiums on January 1, 2021 were as follows: Inventory of hot and cold water dispensers 30 units Estimated premium claims outstanding P17,500 Estimated liability for warranty P80,000 1. How much is the warranty expense for the year ended December 31, 2021?

2. How much is the estimated liability for warranty at December 31, 2021?

3. How much is the premium expense for the year ended December 31, 2021?

4. How much is the estimated premium claims outstanding at December 31, 2021?

5. How much is the premium inventory reported at December 31, 2021?