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Dear tutors kindly answer question 1 below according to the marks Anggur Bhd enters a contract with a customer on 1 January 2022 to sell
Dear tutors kindly answer question 1 below according to the marks Anggur Bhd enters a contract with a customer on 1 January 2022 to sell Product A at RM100 per unit. If the customer purchases more than 1,000 units of Product A in a calendar year, the contract specifies that the price per unit is retrospectively reduced to RM90 per unit. For the first quarter ended 31 March 2022, Anggur Bhd sells 75 units of Product A to a customer. Anggur Bhd estimates that the customer's purchases will not exceed the 1,000-unit threshold required for the volume discount in the calendar year. However, in May 2022, Anggur Bhd sells another 500 units of Product A to the customer. Considering this, Anggur Bhd estimates that the customer's purchases will exceed the 1,000-unit threshold for the calendar year. The new accountant in Anggur Bhd was unsure if the revenue should be computed based on RM100 or RM75 per unit. Required: (a) Advise the new accountant the circumstances when the revenue should be based on RM90 per unit, i.e. when the discount of RM10 should be accounted for. (6 marks) (b) Compute, with explanation, the revenue that Anggur Bhd would recognise in: i. Quarter ended 31 March 2022 (4 marks) ii. Quarter ended 30 June 2022 (10 marks)
Dear tutors kindly answer question 1 below according to the marks
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