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Find the transaction price that soccerhawk should use

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Question - SoccerHawk Merchandise Inc. enters into a 6-month contract to sell soccer balls to City Soccer. The contract contains the following price scale:

Sales Volume

Price per Soccer Ball

First 300 soccer balls sold$22Next 200 soccer balls sold19Next 250 soccer balls sold17Additional soccer balls sold15On the date the contract is signed, SoccerHawk estimates based on past experience that there is a 20% chance it will sell 450 soccer balls, a 45% chance it will sell 600 soccer balls, and a 35% chance it will sell 800 soccer balls.

The company sells the following soccer balls during the 6-month contract:

Number of Soccer BallsMonth 1-155 Month 2-60 Month 3-125 Month-75 Month 5-85 Month 6-60: Total sales560balls

Find the transaction price that SoccerHawk should use when recording monthly revenue?

Reference no: EM132437346

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