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analyzing and computing accrued warranty liability and expense

waymire company sells a motor that carries a 60-day unconditional warranty against product failure period from the prior years experience way more estimates that 2% of the units sold each period will require repair at an average cost of $100 per unit. during the current period waymire sold 69,000 units and repair 1,000 units

a) how much warranty expense must weigh my report in this current period and come statement?

b)what warranty liability related to current period sales will weigh my report on its current period and balance sheet? assume that actual repair costs are as estimated. (hint: remember that some units were repaired in the current period)

Analyzing and Computing Accrued Warranty Liability and Expense Waymire Company sells a motor that carries a 60-day unconditional warranty against product failure. From prior years' experience, Waymire estimates that 2% of units sold each period will require repair at an average cost of $100 per unit. During the current period, Waymire sold 69,000 units and repaired 1,000 units. (a) How much warranty expense must Waymire report in its current period income statement? $ 0 (b) What warranty liability related to current period sales will Waymire report on its current period-end balance sheet? Assume that actual repair costs are as estimated. (Hint: Remember that some units were repaired in the current period.) $ 0

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