PLEASE ANSWER ALL QUESTIONS NOT JUST ONE

Exercise 5-9 Variable consideration; estimation and constraint LO5-6] Thomas Consultants provided Bran Construction with assistance in implementing various cost-savings initiatives. Thomas's contract specifies that it will receive a flat fee of $58,000 and an additional $28,000 if Bran reaches a prespecified target amount of cost savings. Thomas estimates that there is a 35% chance that Bran will achieve the cost-savings target. Required: 1. Assuming Thomas uses the expected value as its estimate of variable consideration, calculate the transaction price. 2. Assuming Thomas uses the most likely value as its estimate of variable consideration, calculate the transaction price. 3. Assume Thomas uses the expected value as its estimate of variable consideration, but is very uncertain of that estimate due to a lack of experience with similar consulting arrangements. Calculate the transaction price. Complete this question by entering your answers in the tabs below Req 1 Req 2 and 3 2. Assuming Thomas uses the most likely value as its estimate of variable consideration, calculate the transaction price. 3. Assume Thomas uses the expected value as its estimate of variable consideration, but is very uncertain of that estimate due to a lack of experience with similar consulting arrangements. Calculate the transaction price. 2. Transaction price 3. Transaction price Req1 Req 2 and 3 Exercise 5-9 Variable consideration; estimation and constraint LO5-6] Thomas Consultants provided Bran Construction with assistance in implementing various cost-savings initiatives. Thomas's contract specifies that it will receive a flat fee of $58,000 and an additional $28,000 if Bran reaches a prespecified target amount of cost savings. Thomas estimates that there is a 35% chance that Bran will achieve the cost-savings target. Required: 1. Assuming Thomas uses the expected value as its estimate of variable consideration, calculate the transaction price. 2. Assuming Thomas uses the most likely value as its estimate of variable consideration, calculate the transaction price. 3. Assume Thomas uses the expected value as its estimate of variable consideration, but is very uncertain of that estimate due to a lack of experience with similar consulting arrangements. Calculate the transaction price. Complete this question by entering your answers in the tabs below Req 1 Req 2 and 3 2. Assuming Thomas uses the most likely value as its estimate of variable consideration, calculate the transaction price. 3. Assume Thomas uses the expected value as its estimate of variable consideration, but is very uncertain of that estimate due to a lack of experience with similar consulting arrangements. Calculate the transaction price. 2. Transaction price 3. Transaction price Req1 Req 2 and 3