Please explain and help me fulfill requirements 1-3.

following costs per tire: (Click the icon to view the costs and additional information.) Read the requirements. what is the lowest acceptable transfer price? What is the highest acceptable transfer price? (Assume the $5 includes only the variable portion of conversion costs.) The lowest acceptable transfer price is , the Tire Division's More info Requirements Direct material cost per tire $22 1. Assume that the Tire Division has excess capacity, meaning that it can produce tires for Conversion costs per tire $5 (Assume the $5 includes only the variable portion of the Tractor Division without giving up any of its current tire sales to outsiders. If Greely conversion costs.) Motors has a negotiated transfer price policy, what is the lowest acceptable transfer price? What is the highest acceptable transfer price? Fixed manufacturing overhead cost for the year is expected to total $153,000. The Tire Division 2. If Greely Motors has a cost-plus transfer price policy of full absorption cost plus 30%, expects to manufacture 51,000 tires this year. The fixed manufacturing overhead per tire is $3 what would the transfer price be? ( $153,000 divided by 51,000 tires). 3. If the Tire Division is currently producing at capacity (meaning that it is selling every 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