Thomas Consultants provided Bran Construction with assistance in implementing various cost-savings initiatives. Thomass contract specifies that it will receive a flat fee of $53,000 and an additional $23,000 if Bran reaches a prespecified target amount of cost savings. Thomas estimates that there is a 20% 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.

Check my work mode: This shows what is correct or Incorrect for the work you have completed so far. It does not indicate completion. Return to question 3 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 $53,000 and an additional $23,000 if Bran reaches a prespecified target amount of cost savings. Thomas estimates that there is a 20% chance that Bran will achieve the cost savings target. 0.8 points 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 1 Reo 2 and 3 Assurning Thomas uses the expected value as its estimate of variable consideration, calculate the transaction price. Expected Amounts Possible Amounts Probabilities $ 15.200 - 20% $ $ 52.000 Expected contract price at noeption S Mc GEN Hill Pealed Screenshot . 28 A W