Multiple Choice
Sales made in fiscal 2016 for $50,000,000 include a 5 year warranty coverage.The estimated cost for warranty is expected to be 2% for the first 4 years and 5% for the last year.Determine how much warranty expense will be recorded in fiscal 2016.
A) 1,000,000
B) 4,000,000
C) 5,000,000
D) 6,500,000
Correct Answer:
Verified
Correct Answer:
Verified
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