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Chapter 5 Quiz Submit MC Qu. 106 On July 15, 2018, Ortiz & Co. signed... On July 15, 2018, Ortiz & Co. signed a contract to provide EverFresh Bakery with an ingredient-weighing system for a price of $100,800. The system included finely tuned scales that fit into EverFresh's automated assembly line, Ortiz's proprietary software modified to allow the weighing system to function in equipment and software on an Ortiz's systems.) If Ortiz was to provide these goods or services separately, it would charge $69,000 for the scales $10,000 for the software, and $21000 for the calibration contract. Ortiz delivered and installed the equipment and software on August 1, 2018, and the calbration service commenced on that date. contract to calibrate the basis. (Ortiz competes with other vendors who offer ongoing calibration contracts for Assume that the scales, software and calibration service are all separate performance obligations. How much revenue will Ortiz recognize in 2018 for this contract? $88,452 Prev 1of5 Next > 2