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On March 21, Office Tech signed a contract with Atlantic Tech University to sell it 102 laser printers and 122 additional high-volume toner cartridges. The
On March 21, Office Tech signed a contract with Atlantic Tech University to sell it 102 laser printers and 122 additional high-volume toner cartridges. The contract price was $46,900. Office Tech normally charges $360 for each laser printer and $100 for each high- volume toner cartridge. The printers cost Office Tech $296, while each toner cartridge costs $51. No sales returns or allowances are expected by Office Tech's management. All of the printers were delivered to the university on March 26, but the toner cartridges were not delivered until April 3 because they were shipped from a different warehouse. (a) Determine the amount of revenue that Office Tech would be able to recognize in March. (Round intermediate calculations and final answers to decimal places, e.g. 5,125.) Allocated Selling price $ 360 Laser printers Toner cartridges 100 Total 460 Amount of revenue recognized in March $
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