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9/27/2017 Assignment Print View ; 2/3 4. Award: 2.00 points Aria Perfume, Inc., sold 3,210 boxes of white musk soap during January of 2018 at the price of $90 per box. The company offers a full refund to unsatisfied customers for any product returned within 30 days from the date of purchase. Based on historical experience, Aria expects that 3% of sales will be returned. How many performance obligations are there in each sale of a box of soap? How much revenue should Aria recognize in January? Number of performance obligations in the contract 2 January revenue $ 280,233 References Worksheet Learning Objective: 05­05 Determine whether a contract exists, and whether some frequently encountered features of contracts qualify as performance obligations. Difficulty: 2 Medium Learning Objective: 05­06 Understand how variable consideration and other aspects of contracts affect the calculation and allocation of the transaction price.
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