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Question - Warranties - Clean Corporation manufactures and sells Dishwashers. Clean provides all customers with a two-year warranty guaranteeing to repair, free of charge, any defects reported during this time period. During the year, it sold 100,000 Dishwashers for $245 each. Analysis of past warranty records indicates that 12% of all sales will be returned for repair within the warranty period. Clean expects to incur expenditures of $9 to repair each Dishwasher. The account Estimated Liability for Warranties had a balance of $120,000 on January 1. Clean incurred $135,000 in actual expenditures during the year.
Analysis of past warranty records indicates that 12% of all sales will be returned for repair within the warranty period. Clean expects to incur expenditures of $9 to repair each Dishwasher. The account Estimated Liability for Warranties had a balance of $120,000 on January 1. How does this entry affect the accounting equation?
If these items were bought on 2/10, n/30 terms and the invoice and the freight bill were paid within the 10-day period, what would be the cost per unit?
If the margin of safety for Canace Company was 20%, fixed costs were $1,875,000, and variable costs were 80% of sales, what was the amount of actual sales
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Estimate manufacturing costs for production levels of 12,000 units, 15,000 units, and 18,500 units per month.
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