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Accrued Expenses

12 Months Ended

Dec. 31, 2022

Note 10 — Accrued Expenses

Accrued expenses consisted of the following:


	December 31,		December 31,
	2022		2021

Accrued Wages and Related Costs	$	843,537	$	683,044
Accrued Professional Services		263,800		551,220
Accrued Warranty Obligations		159,927		185,044
Other Accrued Expenses		403,275		—

Total	$	1,670,539	$	1,419,308

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, unless the customer purchases an extended warranty for an additional 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. Included in Other Accrued Expenses as of December 31, 2022, were $318,320 in accrued vendor expenses.

The changes in the Company’s accrued warranty obligations for the years ended December 31, 2022, 2021 and 2020 were as follows:


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)
Warranty Issued During Year		383,538
Accrued Warranty Obligations at December 31, 2021	$	185,044
Reductions for Settling Warranties		(408,655)
Warranties Issued During Year		383,538

Accrued Warranty Obligations at December 31, 2022	$	159,927