Concord Inc. sells an irrigation system that cost $176,000 to McGraw Company for $356,000 on...
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Concord Inc. sells an irrigation system that cost $ to McGraw Company for $ on March The sales price includes an installation fee. The standalone price of the installation fee is $ The standalone price of the irrigation system is $ The installation is considered a separate performance obligation and is expected to take months to complete. a Your answer is correct. Allocate Concord's total selling price for the irrigation system and installation to the two performance obligations delivery of the irrigation system and installationRound intermediate calculations to decimal places, eg and final answers to decimal places, eg Irrigation system $ Installation Concord delivered the irrigation system on March The installation was completed on June How much revenue should Concord recognize in the first quarter of related to its sale to McGraw? How much revenue should Concord recognize in the second quarter? Round answers to decimal places, eg First Quarter Second Quarter Revenue 
Concord Inc. sells an irrigation system that cost $ to McGraw Company for $ on March The sales price includes an installation fee. The standalone price of the installation fee is $ The standalone price of the irrigation system is $ The installation is considered a separate performance obligation and is expected to take months to complete.
a
Your answer is correct.
Allocate Concord's total selling price for the irrigation system and installation to the two performance obligations delivery of the irrigation system and installationRound intermediate calculations to decimal places, eg and final answers to decimal places, eg
Irrigation system $
Installation
Concord delivered the irrigation system on March The installation was completed on June How much revenue should Concord recognize in the first quarter of related to its sale to McGraw? How much revenue should Concord recognize in the second quarter? Round answers to decimal places, eg
First Quarter
Second Quarter
Revenue
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