Surfside Ltd is marketing a $$surfing bundle$$ in which, for $$1100,$ it provides customers with a surfboard $($which retails separately for $$850),$ a wetsuit $($which retails separately for $$250)$ and five lessons $($which retail separately for $$200).$ You are required to determine:

Whether separate performance obligations exist, and to explain why you made this judgement.

How much of the transaction price to allocate to each performance obligation.