Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
Sunshine enters into a contract with a customer to sell three products for a total transaction price of $14.900. Each product is appropriately classified as
Sunshine enters into a contract with a customer to sell three products for a total transaction price of $14.900. Each product is appropriately classified as a separate performance obligation Sunshine only sells bricks and stones on an individual basis so it must estimate the standalone selling price for cement Information related to these three products is provided in the following table Click the icon to view the information) How should Sunshine allocate the transaction price to the three products using the adjusted market assessment approach? Calculate the allocated transaction price for the three products using the adjusted market assessment approach (Round the percentage to the nearest whole percent) Percentage of Total Allocated Transaction Price Data Table Market Competitor Prices 8550 7000 2850 Product Bricks Stones Cement Total Product Bricks Stones Coment Market Standalone Competitor Forecasted Selling Price Prices Cost $ 6.000 5 3,550 5,000 3 7.500 5 7,500 5 4,900 Not available 2850 $ 1.900 Print Done Done
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started