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Exercise 6 - 3 ( Algo ) Allocating transaction price [ LO 6 - 4 ] Video Planet ( VP ) sells a big screen
Exercise Algo Allocating transaction price LO
Video Planet VP sells a big screen TV package consisting of a inch plasma TV a universal remote, and onsite installation by VP staff. The installation includes programming the remote to have the TV interface with other parts of the customer's home entertainment system. VP concludes that the TV remote, and installation service are separate performance obligations. VP sells the inch TV separately for $ sells the remote separately for $ and offers the installation service separately for $ The entire package sells for $
Required:
How much revenue would be allocated to the TV the remote, and the installation service?
Note: Do not round intermediate calculations.
tableItem Description,tableAllocatedRevenueTVRemoteInstallationTotal revenue,$
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