Accrued Expenses

12 Months Ended

Dec. 31, 2021

Accrued Expenses

Accrued Expenses

Note 10 — Accrued Expenses

Accrued expenses consisted of the following:

	December 31,		December 31,
	2021		2020
Accrued Wages and Related Costs	$	683,044	$	582,924
Accrued Professional Services		551,220		187,323
Accrued Warranty Obligations		185,044		143,898
Other Accrued Expenses		—		68,888
Total	$	1,419,308	$	983,033

The Company has warranty obligations in connection with the sale of certain of its products. The warranty period for its products is generally twelve (12) months. The costs incurred to provide for these warranty obligations are estimated and recorded as an accrued liability at the time of sale. The Company estimates its future warranty costs based upon product-based historical performance rates and related costs to repair.

The changes in the Company’s accrued warranty obligations for the years ended December 31, 2021, 2020 and 2019 were as follows:

Accrued Warranty Obligations at December 31,  2018	$	218,047
Reductions for Settling Warranties		(204,583)
Warranty Issued During Year		85,429
Accrued Warranty Obligations at December 31,  2019		98,893
Reductions for Settling Warranties		(193,503)
Warranty Issued During Year		238,508
Accrued Warranty Obligations at December 31, 2020		143,898
Reductions for Settling Warranties		(342,392)
Warranties Issued During Year		383,538
Accrued Warranty Obligations at December 31, 2021	$	185,044