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Compute the premium expense

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Question - Mo Co. includes one coupon in each bag of dog food it sells. In return for eight coupons, customers receive a leash. The leashes cost Mott P3 each. Mo estimates that 40 percent of the coupons will be redeemed. Data for 2022 and 2023 are as follows:

 

2022

2023

Bags of dog food sold

500,000

600,000

Leashes purchased

18,000

22,000

Coupons redeemed

120,000

150,000

Required - Compute the premium expense for 2022?

Reference no: EM133150039

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