Blue Company sold 2900 units of its product for $670 each in 2024. The selling...
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Blue Company sold 2900 units of its product for $670 each in 2024. The selling price includes a one-year warranty on parts. It is expected that 3% of the units will be defective and that repair costs will average $112 per unit. In 2024, warranty contracts are honoured on 67 units for a total cost of $7504. What amount should Blue Company record in 2024 for warranty expense? $58290 $9744. $2240 $7504
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