Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Som Am ISO WHFW Saag 6,70 Ses Help Save On y 15, 2021 Co signed a contract to provide Everfreshery with an ingredient weighing system

image text in transcribed
Som Am ISO WHFW Saag 6,70 Ses Help Save On y 15, 2021 Co signed a contract to provide Everfreshery with an ingredient weighing system for a price of 593 600 The system included finely tuned scales that fit into EverFresh's automated assembly line, Orr's proprietary software modified to allow the weighing system to function in Everfresh's automated system, and a one year contract to calibrate the equipment and software on an as needed basis Ortiz competes with other vendors who offer ongoing calibration contracts for Orr's systems.) Ort was to provide these goods or services separately. It would charge 563.000 for the scales. $10,000 for the software and $27000 for the calibration contracte delivered and stated the equipment and software on August, 2021, and the calibration service commenced on that date. Assume that the scales, software and calation service reviewed as one performance obligation. How much revenue will ofte recognize in 2021 for this contract SO O

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

what is a VPN Access Review?

Answered: 1 week ago