Diversified Industries manufactures sump-pumps. Its most popular is called the Super Soaker, which costs $650 to manufacture and $200 to install. Diversified sells the super soaker directly to commercial customers for $1300 a unit and will install the unit for an additional $250. Diversified also provides monthly maintenance services at a cost of $8 per hour.

Diversified sold 40 super soakers to a major flood-prone business for a contract price of $60,000. The Super Soakers are delivered and installed on February 1, 201X and full payment is made. Diversified agreed to include installation and a 3-year monthly maintenance service in the contract price in addition to the pumps. Diversified typically charges $15 per month per unit for the maintenance plan and the contractor spends 1 hour/month maintaining each unit.

Allocate the transaction price to the separate performance obligations.