Video Planet (VP) sells a big screen TV package consisting of a 60-inch plasma TV, a universal remote, and on-site installation by VP staff. The installation includes programming the remote to have the TV interface with other parts of the customer's home entertainment system. VP concludes that the TV, remote, and installation service are separate performance obligations. VP sells the 60-inch TV separately for $1,930, sells the remote separately for $190, and offers the entire package for $2,260. VP does not sell the installation service separately. VP is aware that other similar vendors charge $240 for the installation service. VP also estimates that it incurs approximately $190 of compensation and other costs for VP staff to provide the installation service. VP typically charges 40% above cost on similar sales. Required: 1. to 3. Estimate the stand-alone selling price of the installation service using each of the following approaches. Adjusted market assessment Expected cost plus margin Residual Stand-Alone Selling Price

Nash Windows manufactures and sells custom storm windows for three-season porches. Nash also provides installation service for the windows. The installation process does not involve changes in the windows, so this service can be performed by other vendors. Nash enters into the following contract on July 1, 2020, with a local homeowner. The customer purchases windows for a price of $2,360 and chooses Nash to do the installation. Nash charges the same price for the windows irrespective of whether it does the installation or not. The customer pays Nash $1,920 (which equals the standalone selling price of the windows, which have a cost of $1,100) upon delivery and the remaining balance upon installation of the windows. The windows are delivered on September 1, 2020, Nash completes installation on October 15, 2020, and the customer pays the balance due. (a)     Nash estimates the standalone selling price of the installation based on an estimated cost of $440 plus a margin of…

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Bonita Company sells tablet PCs combined with Internet service, which permits the tablet to connect to the Internet anywhere and set up a Wi-Fi hot spot. It offers two bundles with the following terms. 1.   Bonita Bundle A sells a tablet with 3 years of Internet service. The price for the tablet and a 3-year Internet connection service contract is $506. The standalone selling price of the tablet is $234 (the cost to Bonita Company is $167). Bonita Company sells the Internet access service independently for an upfront payment of $324. On January 2, 2020, Bonita Company signed 90 contracts, receiving a total of $45,540 in cash. 2.   Bonita Bundle B includes the tablet and Internet service plus a service plan for the tablet PC (for any repairs or upgrades to the tablet or the Internet connections) during the 3-year contract period. That product bundle sells for $612. Bonita Company provides the 3-year tablet service plan as a separate product with a standalone selling price of $155.…