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15. Colorado Furniture had the following historical accounting data, per hundred board feet, concerning one of its products:

Finished shelving:
Direct materials	$30
Direct labor	16
Variable overhead	10
Fixed overhead	12
Variable selling expenses	8
Fixed selling expenses	4

The shelving is normally transferred internally from the Cutting Division to the Finishing Division. It also may be sold externally for $110 per hundred board feet. The minimum profit level accepted by the company is a markup of 20 percent. The variable selling expenses are avoidable if the shelving is sold internally.

If the negotiated price is used, Colorado Furniture's transfer price should be a

a. What is the maximum transfer price? (Ans: $110, market price)

b. What is the minimum transfer price? (Ans: $56, incremental cost)

c. If the transfer price policy is variable cost plus a 20% fee based on the cost, what is the transfer price? (Ans: $67.2)

d. If the transfer price policy is full cost plus a 20%, markup, what is the transfer price? (Ans: $96)

e. Suppose Cutting lacks enough capacity to serve both the external and internal market. What is the transfer price?