Question
Please show steps and solve in Excel. Please complete by 11:30 pm ET so I have time to use this to study A. Solve in
Please show steps and solve in Excel. Please complete by 11:30 pm ET so I have time to use this to study A. Solve in Excel.
Behr sells products to Home Depot during 2015.
When Home Depot purchases 12,000 units, Behr gives them a 1% rebate.
When Home Depot purchases 20,000 units, Behr gives them a 3% rebate.
When Home Depot purchases 30,000 units, Behr gives them a 5% rebate.
During Q1, Home Depot purchases 9,000 units from Behr at $80,000. Usually, Behr sells over 40,000 units to Home Depot, which tends to happen during Q3.
How much revenue should Behr report for the 9,000 unit sale in Q1? B.
Solve in Excel.
Under contract, Rug Doctor will provide Value Markets with equipment and supplies on 1/2/2013. The equipment has a $655,000 fair market value; the supplies has a value of $110,000. Value Markets agrees to pay Rug Doctor $100,000 every three months over two years, 4/2/2013 to 10/2/2015. The rate to discount the cash flows is 8%.
Calculate the total contract price (for revenue recognition).
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