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Geoff Huen, president of Concrete Sometimes, agrees to const…

Geoff Huen, president of Concrete Sometimes, agrees to construct a concrete cart path at Nebraska Gold Club.  Concrete Sometimes enters in to a contact with Nebraska to construct the path for $500,000.  In addition, as part of the contract, a performance bonus of $70,000 will be paid based on the timing of completion.  The performance bonus will be paid fully if completed by the agreed-upon date.  The performance bonus decreases by $15,000 per week for every week beyond the agreed-upon date.  Geoff has been involved in a number of contracts that had performance bonuses as part of the agreement.  Geoff estimates, given his experience, that there is a 45% probability of completing the project on time, a 30% probability that he will be one week late, a 20% probability that he will be 2 weeks late and a 5% probability that it will be completed three weeks late.  Given this information and assuming Geoff uses the expected value approach, what is the transaction price?  

Genser Inc manufactures Norwegian style sweaters.  On March…

Genser Inc manufactures Norwegian style sweaters.  On March 15, 2018, Genser ships 800 sweaters to Selger Co. to sell on consignment. Although the shipping costs of $1,100 were paid by Genser, Selger paid an additional $500 to help expedite the sweaters through Customs.  This extra $500 is NOT reimbursable by Genser.   By the end of March, Selger had sold 300 of the sweaters for $88,500.  If Selger retains a 10% commission for the sale of the sweaters, how much cash will they remit to Genser?