Marigold's \& Rings Inc. offers a two-year assurance warranty against failure of its products. The...
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Marigold's \& Rings Inc. offers a two-year assurance warranty against failure of its products. The estimated liability is 6% of sales in the year of sale and 8% in the second year. Sales for 2024 and 2025 were: $2600000 and $2912000, respectively. The company incurred no warranty costs in 2024 , but in 2025 they spent $254800 on repairs related to the warranties issued in 2024 and 2025. The warranty provision at the 2024 year end was $208000. $364000. $0. $156000
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