|
The
table below summarizes the warranty expenses and incurred warranty costs for the twelve months ended October 3, 2021 and September 27,
2020.
Schedule of Warranty Reserves
| |
|
|
2021 |
|
|
|
2020 |
|
| |
|
Years ended |
|
| |
|
2021 |
|
|
2020 |
|
| Beginning balance |
|
$ |
83 |
|
|
$ |
46 |
|
| |
|
|
|
|
|
|
|
|
| Incurred costs for warranties satisfied during the period |
|
|
(80 |
) |
|
|
(39 |
) |
| |
|
|
|
|
|
|
|
|
| Warranty Expenses: |
|
|
|
|
|
|
|
|
| Warranties reserved for new product shipped during the period(1) |
|
|
38 |
|
|
|
106 |
|
| Change in estimate for pre-existing warranty liabilities (2) |
|
|
37 |
|
|
|
(30 |
) |
| Warranty Expense |
|
|
75 |
|
|
|
76 |
|
| |
|
|
|
|
|
|
|
|
| Ending balance |
|
$ |
78 |
|
|
$ |
83 |
|
| |
(1) |
Warranty
expenses accrued to cost of sales (based on current year shipments and historical warranty return rate). |
| |
(2) |
Changes
in estimated warranty liabilities recognized in cost of sales associated with: the period end customer returned warranty backlog,
or the actual costs of repaired/replaced warranty units which were shipped to the customer during the year. |
|