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Should greg change his warranty expense estimate

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Reference no: EM132557878

Poly-Fix is a new company, specializing in commercial fasteners. Their products have a long-term warranty against manufacturing defects. Greg's boss feels that 3 percent of sales is too high for their warranty expense estimate. This is a new product that has yet to be tested, and the company president is under pressure from their lenders to meet projected income and profit levels.

Question 1: Should Greg change his warranty expense estimate? Why or why not?

Question 2: Why should a company accrue warranty expense? Explain.

Question 3: Who might be impacted by a decision to revise the estimate? How might they be impacted?

Question 4: What is the impact of revising a warranty expense estimate? Explain.

Reference no: EM132557878

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