Business, 12.08.2020 05:01 bloom826

At the beginning of 2021, Angel Corporation began offering a two-year warranty on its products. The warranty program was expected to cost Angel 8% of net sales. Net sales made under warranty in 2021 were $212 million. Fifteen percent of the units sold were returned in 2021 and repaired or replaced at a cost of $5.20 million. The amount of warranty expense on Angel's 2021 income statement is:

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

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