Business, 18.11.2019 18:31 kiddshay8232

Strikers, inc. sells soccer goals to customers over the internet. history has shown that 5% of strikers' goals will need repair under the warranty program. for the year, strikers has sold 3,900 goals and 47 have been repaired. if the estimated cost to repair a goal is $130, what would be the warranty liability at the end of the year?
at the beginning of 2018, angel corporation began offering a 1-year warranty on its products. the warranty program was expected to cost angel 4% of net sales. net sales made under warranty in 2018 were $180 million. five percent of the units sold were returned in 2018 and repaired or replaced at a cost of $5.3 million. the amount of warranty expense on angel's 2018 income statement is:

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