Business, 22.12.2020 02:40 gracetay6873
At the beginning of 2021, Angel Corporation began offering a two-year warranty on its products. The warranty program was expected to cost Angel 4% of net sales. Net sales made under warranty in 2021 were $197 million. Fifteen percent of the units sold were returned in 2021 and repaired or replaced at a cost of $5.10 million. The amount of warranty expense on Angel's 2021 income statement is:.
a. $29.55 million.
b. $11.28 million.
c. $5.10 million.
d. $7.88 million.
Answers: 2
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At the beginning of 2021, Angel Corporation began offering a two-year warranty on its products. The...
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