M Ltd provides services to commercial clients. In July 20X4 M Ltd entered into an agreement with J Ltd to design and project manage the construction of an office building. The agreement states that the total consideration to be paid by M Ltd to J Ltd for the project would be $900,000.

M Ltd expects that its total costs for the project will be $596,000. As the end of its reporting period, 30 June 20X5, M Ltd had incurred labour costs of $219,000 and materials and other related costs of $200,000. Of the materials and other related costs, $90,000 is in respect of materials that have not yet been used on the project. Of the labour costs, $60,000 is an advance payment to a subcontractor who had not performed their work on the project as at 30 June 20X5.

As at 30 June 20X5, J Ltd had made progress payments to M Ltd of $380,000.

What's the amount of revenue that would be recognised by M Ltd for the project for the year ended 30 June 20X5 in accordance with AASB 15: Revenue from Contracts with Customers.