A company enters a contract to supply three distinct products to a customer. The promise to supply each of these products is regarded as a separate performance obligation. The stand-alone prices of the three products (if sold separately) are: Product X OMR 12,500, Product Y OMR 24,000, and Product Z OMR 27,500. The agreed contract price is OMR 57,600. How should this price be allocated to performance obligations? O a. Product X OMR 12,500, Product Y OMR 24,000, and Product Z OMR 27,500. O b. Product X OMR 10,367, Product Y OMR 21,867, and Product Z OMR 25,366. O . Product X OMR 19,200, Product Y OMR 19,200, and Product Z OMR 19,200. O d. Product x OMR 11,250, Product Y OMR 21,600, and Product Z OMR 24,750.

A company enters a contract to supply three distinct products to a customer. The promise to supply each of these products is regarded as a separate performance obligation. The stand-alone prices of the three products (if sold separately) are: Product X OMR 12,500, Product Y OMR 24,000, and Product Z OMR 27,500. The agreed contract price is OMR 57,600. How should this price be allocated to performance obligations? O a. Product X OMR 12,500, Product Y OMR 24,000, and Product Z OMR 27,500. O b. Product X OMR 10,367, Product Y OMR 21,867, and Product Z OMR 25,366. O . Product X OMR 19,200, Product Y OMR 19,200, and Product Z OMR 19,200. O d. Product x OMR 11,250, Product Y OMR 21,600, and Product Z OMR 24,750.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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