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Use the Following Information for Questions 40-42

Question 13

Multiple Choice

Use the following information for questions 40-42.
Melman Microscopes Inc. offers a two-year warranty against failure of its products. The estimated liability is 1.5% in the year of sale and 3% in the second year. Sales and actual warranty expense for 2016 and 2017 were: Use the following information for questions 40-42. Melman Microscopes Inc. offers a two-year warranty against failure of its products. The estimated liability is 1.5% in the year of sale and 3% in the second year. Sales and actual warranty expense for 2016 and 2017 were: -The warranty expense for 2017 was A) $157,500. B) $175,500. C) $195,000. D) $305,000.
-The warranty expense for 2017 was


A) $157,500.
B) $175,500.
C) $195,000.
D) $305,000.

Correct Answer:

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