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Allocating a Transaction Price Seven Flags Park offers a promotion for free parking to customers who purchase a one day pass to enjoy thrill rides
Allocating a Transaction Price Seven Flags Park offers a promotion for free parking to customers who purchase a one day pass to enjoy thrill rides at its park plus two meal vouchers for a total of $75. Seven Flags sells each of the contract promises separately during the same time frame for the following standalone prices: Day pass = $45, Parking = $20, and two meal vouchers = $30. Compute the allocated transaction price of the day, two meals, and parking for Seven Flags assuming the sale of 1,100 promotional packages on July 15, 2020. *Round each allocated transaction price to the nearest whole dollar. Transactions Standalone Selling Total Allocated Performance Price Selling Price Transaction Price Obligations as Stated Price Ratio (rounded) Day passes 23,100 x Two meals 9,900 x Parking 4,400 x 37,400 x $ 45$ 45$ 45 $ 95$ 30 30 30 - 95 0 20 20 - 95 $ 75 $ 95 $
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