QUESTION 12

Company sells systems that mix ingredients. The systems often include mixers, scales, and maintenance agreements. When the Company provides these goods or services separately, it charges $50,000 for the mixer, $30,000 for the scale, and $20,000 for an annual maintenance agreement.

On July 1, Year8 Company signed a contract to provide a customer with one of these complete systems in exchange for $92,000.

Company received $30,000 on July 1 and $62,000 on November 1, Year8 as payment in full from the customer.

The customers's contract included the mixer, the scale, and the annual maintenance agreement that provides for scheduled maintenance on a monthly basis. The mixer, scales, and maintenance agreement are each a separate performance obligation.

1.Compute the dollar amount of the transaction price allocated to each performance obligation (3 amounts). 2.How much revenue does Company record in Year8 related to each of the following: a) mixer PO b) scale PO c) maintenance agreement PO Label your final answers at the top of the answer box and show your work below that.