Answered

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otto corp. entered into a purchase commitment to buy 1,000 units of raw materials for $25 per unit. as of december 31, the purchase commitment is outstanding and the year-end market price is $24 per unit. otto should recognize

Sagot :

tutorconsortium116

The purchase commitment is still in effect. Otto must comprehend $1000.

Explain about the market price?

The market price is the price at which a good or service can currently be purchased or offered for sale. The market price is the price at which there is an equal exchange of goods and services.

Your cost is on par with or the same as that of your rivals. At-market pricing is often applied to goods and services that are nearly identical among vendors. market under: Compared to your rivals, you charge less.

The balance between a commodity's supply and demand determines its market price. This needs to be taken into account when determining consumer surpluses, economic surpluses, etc.

$25 - $24 = $1

1 X 1000 = $1000

To learn more about market price refer to:

https://brainly.com/question/14612966

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