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Business, 27.03.2020 04:57 proxydayz

At the beginning of 2021, Angel Corporation began offering a 1-year warranty on its products. The warranty program was expected to cost Angel 4% of net sales. Net sales made under warranty in 2021 were $200 million. Five percent of the units sold were returned in 2021 and repaired or replaced at a cost of $6.6 million. The amount of warranty expense in Angel's 2021 income statement is:

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At the beginning of 2021, Angel Corporation began offering a 1-year warranty on its products. The wa...
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