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Gibeon Motors marufactures specialty tractors. It has two divisions a Tractor Division and a Tire Dhision. The Tractor Diviaion can use the tires produced oy the Tire tivibion. The marnut proe pey 1ire is $60. The Tire Division has the folowing coste per the: (.) (Click tho icon to viow the cosin and additional information.) Read the requirements. Requirement 1. Assume that the Tire Division has excess capachy, meaning that it can produce fires for the Tractor Divicon without giving up ary of its current tre sains to outaicins it Gibson Motors has a nogce ated transfer price policy, what is the lowest acoeptable translar price? What is the highest acoeptabie franter price? (Assume that 53 includis anty the variabie porion of corversion costs.) The lowest acoeptable transfer price is the Tire Dirasions More info Direct material cont per tire $25 Conversion costs per tire $3 (Assume the $3 includos only the variable portion of convorion costs.) Fixed manutacturing overhead cost for the year is expectod to total $00,000. The Tre Division expects to marufacture 45,000 thes this year. The fred manufocturing ovirhead per time is $2 ( $90,000 divided by 45,000 tres). 1. Assume that the Tire Division has excess capacity, meaning that it can produce tires for the Tractor Division without giving up any of its current tire sales to outsiders. If Glbson Motors has a negotiated Iransfer price policy, what is the lowest acceplable transfer price? What is the highest acceptable transfer price? 2. If Gibson Motors has a cost-plus transfer price policy of full absorption cost plus 20%. what would the transfer price be? 3. If the Tire Division is currently producing at capacity (meaning that it is solling overy single tire it has the capacity to produce), what would likely be the fairest transfer price strategy to use? What would be the transfer price in this case? Direct material cost por tiro $25 Conversion costs par tre $3 (Assume the $3 includes only the variahle partion af convertion costs.) Foxed manutacturing overtiead cost for the yoar is exponctod to totai 5000000 . The 7re Division expects to manufacture 45,000 tires this year. The foxed manufactaring overhead per fire is 52 (S90,000 divided by 45,000 tires)