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How much would be the predicted warranty expense

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Question - ABC Company sells a television set with a 2-year warranty against defects. ABC estimates warranty costs at 2% of the peso sales within 12 months following the sale and at 4% in the second 12 months following the sale. Sales for the year 2018 and 2019 are P 5,000,000 and P 7,500,000, respectively.

Assuming sales and repair occur evenly throughout the period, how much would be the predicted warranty expense covering 2018 and 2019 sales still under warranty at December 31, 2019?

Reference no: EM132823373

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