TechGear Electronics sold 400 smartwatches for $300 each during May. Each smartwatch costs TechGear $150 to manufacture and comes with a two-year warranty. If 5% typically need to be replaced over the warranty period, and eight are actually replaced during May, for what amount in May should TechGear debit Product Warranty Expense? a. $3,000 b. $1,200 c. $4,500 d. $2,400
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- During April, koduck cameras sold answer general andDuring March, Avalon Electronics sold 300 smartwatches for $250 each. Each smartwatch had cost Avalon $120 to manufacture and comes with a one-year warranty. If 6% of the smartwatches typically need to be replaced over the warranty period, and fifteen are actually replaced during March, for what amount in March should Avalon debit Product Warranty Expense?Vishal
- Blue Jay, Inc., manufactures and sells computer monitors with a three-year warranty.Warranty costs are expected to average 7% of sales during the warranty period. The followingtable shows the sales and actual warranty payments during the first two years of operations:Year Sales Warranty Payments2018 $650,000 $ 5,8502019 850,000 42,500Based on these facts, what amount of warranty liability should Blue Jay, Inc., report on itsbalance sheet at December 31, 2019?a. $48,350b. $56,650c. $105,000d. $42,500A new product introduced by Reyes Promotions carries a two-year warranty against defects. The estimated warranty costs related to peso sales are as follows: Year of sale.. .3% Year after sale..... .5% Sales and actual warranty expenditures for the years ended December 31, 2020 and 2021 are as follows: Sales 800,000 1,000,000 Expenditures 12,000 70,000 2020 2021 11. How much is the warranty expense in 2021? 12. How much is the estimated liability as of December 31, 2021? Assume the 2020 warranty did not yet expire.Assume that you start with a balance of $3900 on your credit card.During the first month you charge $400. During the second month you charge $650 and make a payment of $280. Assume that your credit card charges a 29% APR and each month you make the minimum payment of 2.5% of the balance. Complete the following table. Round your answer to the nearest cent. Month 1 Previous balance- $3900 Finance charge- $94.25 Purchase- 400 Payment ?97.50 New balance? Month 2 Previous balance- finance charge- purchase- payments- New balance
- One of your customers has just made a purchase in the amount of $28,000. You have agreed to payments of $590per month and will charge a monthly interest rate of 1.44 percent. How many months will it take for the account to bepaid off?Multiple Choicea. 75.08 monthsB. 86.63 months C. 80.44 monthsD. 47.46 monthsE. 36.43 monthsCreative Computing sells a tablet computer called the Protab. The $740 sales price of a Protab Package includes the following: One Protab computer. A 6-month limited warranty. This warranty guarantees that Creative will cover any costs that arise due to repairs or replacements associated with defective products for up to six months. A coupon to purchase a Creative Probook e-book reader for $225, a price that represents a 40% discount from the regular Probook price of $375. It is expected that 20% of the discount coupons will be utilized. A coupon to purchase a one-year extended warranty for $70. Customers can buy the extended warranty for $100 at other times if they do not use the $70 coupon. Creative estimates that 40% of customers will purchase an extended warranty. Creative does not sell the Protab without the limited warranty, option to purchase a Probook, and the option to purchase an extended warranty, but estimates that if it did so, a Protab alone would sell for $720.Creative Computing sells a tablet computer called the Protab. The $740 sales price of a Protab Package includes the following: One Protab computer. A 6-month limited warranty. This warranty guarantees that Creative will cover any costs that arise due to repairs or replacements associated with defective products for up to six months. A coupon to purchase a Creative Probook e-book reader for $225, a price that represents a 40% discount from the regular Probook price of $375. It is expected that 20% of the discount coupons will be utilized. A coupon to purchase a one-year extended warranty for $70. Customers can buy the extended warranty for $100 at other times if they do not use the $70 coupon. Creative estimates that 40% of customers will purchase an extended warranty. Creative does not sell the Protab without the limited warranty, option to purchase a Probook, and the option to purchase an extended warranty, but estimates that if it did so, a Protab alone would sell for $720.…
- Creative Computing sells a tablet computer called the Protab. The $780 sales price of a Protab Package includes the following: One Protab computer. A 6-month limited warranty. This warranty guarantees that Creative will cover any costs that arise due to repairs or replacements associated with defective products for up to six months. A coupon to purchase a Creative Probook e-book reader for $450, a price that represents a 40% discount from the regular Probook price of $750. It is expected that 20% of the discount coupons will be utilized. A coupon to purchase a one-year extended warranty for $65. Customers can buy the extended warranty for $110 at other times if they do not use the $65 coupon. Creative estimates that 30% of customers will purchase an extended warranty. Creative does not sell the Protab without the limited warranty, option to purchase a Probook, and the option to purchase an extended warranty, but estimates that if it did so, a Protab alone would sell for $760. Required:…You have maxed out your credit card and owe $3,100. Its interest rate is 21%. Each month, you make the minimum required payment of $33. (Round your answers to the nearest cent.) (a) During the September 20 through October 19 billing period, you pay the minimum required payment on October 1. Find the average daily balance, the finance charge, and the new balance. average daily balance $3079 finance charge $53.15 new balance $ (b) During the October 20 through November 19 billing period, you pay the minimum required payment on November 11. Find the average daily balance, the finance charge, and the new balance. average daily balance $ finance charge $ new balance $ (c) During the November 20 through December 19 billing period, you pay the minimum required payment on November 30. Find the average daily balance, the finance charge, and the new balance. average daily balance $ finance charge $ new balance $ (d) Discuss the impact of making the…Cook's security system has a $37,500 line of credit, which charges an annual percentage variety of a prime rate plus 4%. The starting balance on October 1st was $9100 on October 4th. They made a payment of $1200 on October 13th. The business borrowed $2500 in October 19th. They borrowed $4200 if the current prime rate is 6 %, what is the new balance in dollars rounded to your nearest cent?