Thomas Consultants provided Bran Construction with assistance in implementing various cost savings initiatives. Thomas's contract specifies that it will receive a fiat fee of $65,000 and an additional $35.000 of 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 Complete this question by entering your answers in the tabs below. Reet Reg 2 and Assuming Thomas we the expected value as its estimate of variable consideration calculate the transaction price Probabies Expected Amounts docet inception Req 2 and 3 > & Prov 6 of Next > 7 8 o R T E Y 1 0 P D F . K V V B N M Thomas Consultants provided Bran Construction with assistance in implementing various cost savings inves. Thomas's contract specifies that it will receive a flat fee of $65.000 and an additional $35,000 of 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. Assurring Thomas uses the expected value as its estimate of variable consideration calculate the transaction price 2. Assuming Thomas uses the most likely value as is estimate of variable consideration calculate the transaction pnce 3. Assume Thomas uses the expected value as is 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. Feci R2 and 3 2. Assuming Thomas uses the most likely value is estimate of variable consideration calculate the transaction 3. Assume Thomas wres the expected values is estimate of variable consideration, but is very uncertain of the estimate due to lack of experience with similar consulting arrangements Calculate the transaction price (Reg1 ) - C 5 6 B 9 0 E R T ul O G . J K K L C