Browning, Inc. enters into a contract with a customer to sell items for $90,000. The contract includes two items of product X, one item of product Y, and one item of product Z.
Browning, Inc. enters into a contract with a customer to sell items for $90,000. The contract includes two items
of product X, one item of product Y, and one item of product Z. The table below summarizes details of the transaction.
How should Browning, Inc. allocate the transaction price for this contract?
Contract Price $90,000 Product # Units in Contract Standalone selling price Total standalone selling price Optional Column Allocated transaction price X 2 $15,000 $30,000 Y 1 25,000 $25,000 Z 1 45,000 $45,000
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