Buffalo, Inc reported sales revenue for 2017 of $903,000
The products were sold with a nine-month warranty. Members of Buffalo's management estimate that the cost of the warranty will be equal to 7% of sales revenue. Which of the following will be included in the entry to record the actual amounts paid out as a result of warranty claims?
A) a debit to Estimated Warranty Payable for the actual amount of payments
B) a credit to Estimated Warranty Payable for $63,210
C) a debit to Estimated Warranty Payable for $63,210
D) a debit to Warranty Expense for the actual amount of payments
A
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Management innovations such as total quality, benchmarking, and business process reengineering cannot lead to sustainable competitive advantage because
A. they cost too much money and effort to implement. B. every company is trying to implement them. C. companies that have implemented these techniques have lost money. D. there is no proof that these techniques work.
Regarding the flow of costs through the inventory accounts, which of the following statements is incorrect?
A) The final amount at each stage is added at the beginning of the next stage. B) The costs flow from Raw Materials Inventory to Work-in-Process Inventory to Finished Goods Inventory. C) Purchases of raw material and freight in are debited to the Work-in-Process Inventory account. D) The format for computing the amount used, manufactured, or sold is the same for all three inventory accounts.
Please describe some of the significant pieces of the Mobilization stage
What will be an ideal response?
Long-term capacity planning decisions such as the purchase of a new machine or construction of a new facility typically ______.
a. call for significant outlays of capital b. require approval from the supervisor of each shift c. need to be cleared by the government d. can be decided only by the board of directors