5. An entity enters into a contract with a customer to sell Products A, B and C in exchange for P100. The entity will satisfy the performance obligations for each of the products at different points...

Topic:
REVENUE FROM CONTRACTS WITH CUSTOMERS

Requirments:

a. Compute for the total discount granted to the customer.

b. Allocate the transaction price to the performance obligations in the contract.

Extracted text: 5. An entity enters into a contract with a customer to sell Products A, B and C in exchange for P100. The entity will satisfy the performance obligations for each of the products at different points in time. The entity regularly sells Products A,


Extracted text: B and C individually, thereby establishing the following stand-alone selling prices: Product Stand-alone selling price Product A P40 Product B P55 Product C P45 In addition, the entity regularly sells Products B and C together for P60. Requirements: a. Compute for the total discount granted to the customer. b. Allocate the transaction price to the performance obligations in the contract.