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7. The Pink Cadillac car dealership provides warranty work on all vehicles sold. The entityʼs past
experience has indicated the following:
-60% of cars sold in a year have zero defects
-25% of cars sold in a year have normal defects
-15% of cars sold in a year have significant defects.
It is estimated that a vehicle with normal defects will incur $3,000 in costs and a vehicle with
significant defects will incur $12,000 in costs.
During the current year, PC sold 80 vehicles and incurred $70,000 in actual costs. With an
opening balance of $40,000 in the warranty provision account, what would be the balance at
the end of the current year and how much warranty expense would be recognized during the
current year?
a) $174,000 and $204,000
b) $174,000 and $70,000
c) $204,000 and $204,000
d) $174,000 and $174,000
What else can I help you with?
How do you explain estimate?
An estimate is an approximate calculation or judgment regarding a quantity, value, or outcome based on available information. It is often used when exact data is unavailable, allowing for a reasonable guess that can guide decision-making. Estimates can be derived from previous data, expert opinions, or simplified models, and they are commonly used in fields like finance, project management, and statistics. Ultimately, while estimates aim for accuracy, they inherently involve a degree of uncertainty.
What is a estimate is based on?
An estimate is based on available data, experience, and assumptions about a particular situation or variable. It often considers historical trends, expert opinions, and statistical models to project future outcomes. The accuracy of an estimate can be influenced by the quality of the underlying information and the methods used in its calculation. Ultimately, estimates serve as informed approximations rather than precise values.
When scientists cannot obtain on exact numbers they often rely on?
estimate
How Is an estimate different from a guess?
An estimate is an informed approximation based on available data or experience, often using logical reasoning or calculations to arrive at a number. In contrast, a guess is a random or uninformed choice made without any supporting information or analysis. While estimates aim for accuracy and can be refined, guesses lack a basis for reliability and are typically more uncertain.
What is ballpart estimate?
A ballpark estimate is a rough approximation or educated guess of a value or cost, typically used in project planning or budgeting when precise data is unavailable. It provides stakeholders with a general idea of what to expect, allowing for informed decision-making. These estimates are often based on previous experience, industry standards, or available data, and they help set expectations for further analysis or detailed planning.
What is extended warranty?
In regard to a motor vehicle.All vehicles come equipped with a standard factory warranty. However, these often are limited by time and mileage. An vehicle protection plan is often times referred to as an extended auto warranty by a consumer, in which affords the consumer the ability to extend coverage past the the original factory warranty of the vehicle. Often times an extended auto warranty can also compliment a factory warranty by providing additional features and benefits like trip interruption and roadside assistance during the original warranty. An extended warranty always has a fee and is never free like a standard factory warranty; however can provide the assurance similar to the car warranty the vehicle had when new.
How often do children need to use blood cord?
There are no good estimates of how often a child will need a transplant of his own cells. Estimates range from 1 in 1,000 to 1 in 200,000
How often will I have to repurchase rechargable batteries, or do they come with a warranty for when they stop holding a charge?
Rechargable batteries should last for over a year. Often they only come with a non-defective warranty.
What is a point of reference from which measurement or estimates may be made?
A point of reference from which measurements or estimates may be made is often called a benchmark
How do you explain estimate?
An estimate is an approximate calculation or judgment regarding a quantity, value, or outcome based on available information. It is often used when exact data is unavailable, allowing for a reasonable guess that can guide decision-making. Estimates can be derived from previous data, expert opinions, or simplified models, and they are commonly used in fields like finance, project management, and statistics. Ultimately, while estimates aim for accuracy, they inherently involve a degree of uncertainty.
What is the warranty on a new Logitech gaming headset?
The standard warranty on a new Logitech gaming headset is 2 years. This is more then the regular 1 year warranty often given for similar computer peripherals.
What is a estimate is based on?
An estimate is based on available data, experience, and assumptions about a particular situation or variable. It often considers historical trends, expert opinions, and statistical models to project future outcomes. The accuracy of an estimate can be influenced by the quality of the underlying information and the methods used in its calculation. Ultimately, estimates serve as informed approximations rather than precise values.
Do RAM and memory upgrades normally come with a warranty?
Most manufacturers offer a warranty between 30 days and one year. The retailer will often offer an extra warranty, though this usually costs extra.
Buy a Car Warranty?
form_title=Buy a Car Warranty form_header=Unexpected repairs lead to unexpected and often high bills. Help plan ahead by buying a car warranty. Describe what you want covered under the warranty:=_ What is the price range you expect to spend per month?="" How long do you want the warranty to last?=_
What do you call the building up of great arsenals of weapons often at the expense of the poor?
an arsenal
Why are Indian people often called First Nation?
Political Correctness at the expense of actualcorrectness.
Define maintenance and other operating expenses?
Operating Expenses are expenses that are incurred while running a business. Maintenance Expense could be considered anything from the cost of maintaining a company vehicle to repairs made on a building or some other type of "maintenance" that is require by the business in order to function at 100%. Many expenses have their own account such as, Utilities Expense, Rent Expense, Insurance Expense, Interest Expense, Supply Expense, just to name a few. Other expense may not have a specific account in which to be recorded, such as Travel Expense, Food Expense (perhaps to entertain a possible client), these expense are often listed under "Other Expenses".
