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WidgetMakers LLC started business January, 01, 2010. They paid a $6,000 premium for insurance coverage...

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Accounting

WidgetMakers LLC started business January, 01, 2010. They paid a $6,000 premium for insurance coverage on their inventory. The coverage expires on June 01, 2010. At this time they renew for the remainder of the year by paying an additional premium of $7,700. What is the quarterly insurance expense that WidgetMakers should report for the period ending June 30,2010?

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\table[[Transactions,Units,Unit Cost],[a. Inventory, Beginning,500,$10