Briar Co. signed a government construction contract
providing for a formula price of actual cost plus 10%. In addition,
Briar was to receive one-half of any savings resulting from the
formula price being less than the target price of $2,200,000.
Briar’s actual costs incurred were $1,920,000. How much should
Briar receive from the contract?

$2,060,000
$2,112,000
$2,156,000
$2,200,000

Answer rating: 100% (QA)

The detailed answer for the above question is provided below c The requirement is to determine th... View the full answer