Question: Martin Software Developers, Inc. recently signed a contract for $ 1,600,000 to create a registration, grade report, and transcript system for MacFarlane State University. Each

Martin Software Developers, Inc. recently signed a contract for $ 1,600,000 to create a registration, grade report, and transcript system for MacFarlane State University. Each part of the system will be delivered separately and must be fully functional upon installation. The standalone sales value of each performance obligation is reported below.
Description Standalone Selling Prices
Registration System……………………… $ 500,000
Grade Reporting System………………… 800,000
Transcript System………………………. 700,000
Total $ 2,000,000
How should Martin allocate the $ 1,600,000 transaction price across the performance obligations?

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