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1. Zentric Garage Inc. enters into a contract to provide services totaling $85,000. The contract includes a potential performance bonus based on when Zentric Garage
1. Zentric Garage Inc. enters into a contract to provide services totaling $85,000. The contract includes a potential performance bonus based on when Zentric Garage completes the services. Zentric Garage estimates the following scenarios for completion. 1 (Click the icon to view the scenarios.) Determine the bonus using the most-likely-amount approach. Ignore any constraints on variable consideration. Determine the bonus using the most-likely-amount approach under scenario 1. The bonus for this contract using the most-likely-amount approach under scenario 1 is Determine the bonus using the most-likely-amount approach under scenario 2. The bonus for this contract using the most-likely-amount approach under scenario 2 is Determine the bonus using the most-likely-amount approach under scenario 3. The bonus for this contract using the most-likely-amount approach under scenario 3 is 1: Scenarios \begin{tabular}{lccccc} & & \multicolumn{3}{c}{ Probability } \\ \cline { 3 - 6 } Complete within & \multicolumn{2}{c}{ Bonus } & Scenario 1 & Scenario 2 & Scenario 3 \\ 3 days & $ & 9,000 & 75% & 47% & 0% \\ 5 days & $ & 4,500 & 10% & 38% & 70% \\ 8 days & $ & 5,000 & 15% & 15% & 30% \end{tabular}
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