ACC 302 Module 1 Assignment

ACC 302 Module 1 Assignment - ZhunQuadreat Hill Module 1...

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ZhunQuadreat Hill October 27, 2011 Module 1 Assignment (1) Sales of musical instruments and sound equipment ........ $5,700,000 Estimated warranty cost ..................................................... X .02 Warranty expense for 2010 ........................................ $ 114,000 (2) Estimated liability for warranties—1/1/10 .......................... $ 136,000 2010 warranty expense (Requirement 1) ............................ 114,000 Subtotal ....................................................................... 250,000 Actual warranty costs during 2010 ..................................... (164,000) Estimated liability from warranties—12/31/10 ................... $ 86,000 (3) Coupons issued (1 coupon/$1 sale) ................................... 1,500,000 Estimated redemption rate .................................................. .60 Estimated number of coupons to be redeemed ................ 900,000 Exchange rate (200 coupons for a CD player) ................... ÷ 200 Estimated number of premium CD players to be issued ....................................................................... 4,500 Net cost of CD players ($32 – $20)
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