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What is the warranty expense for the first year

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Reference no: EM131756310

Question: An entity offers a 2 year warranty program on all the products is sells. They estimate that warranty costs will equal 3% of sales in the first year of the warranty and 2% of sales in the second year of the warranty. in the first year, total sales amounted to $3831401. Warranty costs incurred to service products under warranty was $35655. What is the warranty expense for the first year? Select one:

a. 191570

b. 35655

c. 155915

d. 114942

Reference no: EM131756310

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