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Fiddling Enterprises entered into a contract with one of its customers. The contract provided for a formula price of actual cost plus 20%. Fiddling is also entitled to receive 50% of any savings from the formula price being less than the target price of $4,500,000. Fiddling incurred actual costs of $3,600,000. How much should Fiddling receive from the contract?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9964401

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