Frozen Co. introduced a new snow blower during 2020. The new product carries a two-year warranty against defects. The estimated warranty costs are 2% of sales within 12 months following the sale and 3% in the second 12 months following the sale. Sales and actual warranty claims for the years ended December 31, 2020, and 2021, are as follows: Sales Actual warrenty expenditures
2020 $200,000 $12,000
2021 $325,000 35,000
$2,000,000 $47,000
At December 31, 2021. (assuming the accrual method) Eaton should report an estimated warranty liability of:

a. $0.
b. $53,000.
c. $73,000.
d. $61,000.
e. None of the above.

Which of the following is most likely to lead to a general decrease in wages? a. elastic demand b. public goods c. an economic recovery d. immigration 2b2t

Ardmore farm and seed has an inventory dilemma. they have been selling a brand of very popular insect spray for the past year. they have never really analyzed the costs incurred from ordering and holding the inventory and currently fave a large stock of the insecticide in the warehouse. they estimate that it costs $25 to place an order, and it costs $0.25 per gallon to hold the spray. the annual requirements total 80,000 gallons for a 365 day year. a. assuming that 10,000 gallons are ordered each time an order is placed, estimate the annual inventory costs. b. calculate the eoq. c. given the eoq calculated in part b., how many orders should be placed and what is the average inventory balance? d. if it takes seven days to receive an order from suppliers, at what inventory level should ardmore place another order?

Which of the following is not an example of one of the four mail advantages of prices on a free market economy