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6. Vermes enters into a contract offering variable consideration. The contract pays him $10,000/month for six months of continuous consulting services. In addition, there is an 80% chance the contract will pay an additional $15,000 bonus. There is a 20% chance Vermes receives no bonus. Vermes concludes that this contract qualifies for revenue recognition over time. Assume the estimated variable consideration is not subject to a significant reversal and Vermes estimates variable consideration as the most likely amount. What is the amount of revenue Vermes would recognize for the first month of the contract? (1.5 points)

6. Vermes enters into a contract offering variable consideration. The contract pays him $10,000/ month for six months of continuous consulting services. In addition, there is an 80% chance the contract will pay an additional $15,000 bonus. There is a 20% chance Vermes receives no bonus. Vermes concludes that this contract qualifies for revenue recognition over time. Assume the estimated variable consideration is not subject to a significant reversal and Vermes estimates variable consideration as the most likely amount. What is the amount of revenue Vermes would recognize for the first month of the contract? (1.5 points)

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