Carla Vista Company manufactures equipment. Carla Vista's products range from simple automated machinery to complex systems containing numerous components. Unit selling prices range from $$230,000$ to $$1,660,000,$ and are quoted inclusive of installation. The installation process does not involve changes to the features of the equipment to perform to specifications. Carla Vista has the following arrangement with Vaughn Inc.

Vaughn purchases equipment from Carla Vista on May $2,2023,$ for a price of $$1,175,000$ and contracts with Carla Vista to install the equipment. Carla Vista charges the same price for the equipment irrespective of whether it does the installation or not. Using market data, Carla Vista determines that the installation service is estimated to have a fair value of $$75,000.$ The cost of the equipment is $$600,000.$

Vaughn is obligated to pay Carla Vista the $$1,100,000$ on delivery of the equipment and the balance on the completion of the installation.

Carla Vista delivers the equipment on June $1,2023,$ and completes the installation of the equipment on September $30,2023.$ Assume that the equipmenfand the installation are two distinct performance obligations that should be accounted for separately.

$($a$)$

Allocate the transaction price of $$1,175,000$ among the performance obligations of the contract. Assume Carla Vista follows IFRS,