Business, 17.12.2019 23:31 Jasten

At the beginning of 2016, angel corporation began offering a two-year warranty on its products. the warranty program was expected to cost angel 4% of net sales. net sales made under warranty in 2016 were $180 million. fifteen percent of the units sold were returned in 2016 and repaired or replaced at a cost of $5.3 million. the amount of warranty expense on angel's 2016 income statement is:

a. $5.3 million.
b. $7.2 million.
c. $10.6 million.
d. $27.0 million.

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At the beginning of 2016, angel corporation began offering a two-year warranty on its products. the...