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Determine the transaction price that Robotics should use

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Reference no: EM132889994

Problem - Robotics Inc. contracts with a customer to build a custom robot to be used in the customer's manufacturing operations for $2,000,000. If the robot is delivered and operational by January 1, the customer will pay Robotics a $200,000 performance bonus. For every week that the robot is not operational, the bonus is reduced by $100,000. Robotics estimates the following possible outcomes and probabilities:

Completed by January 1 40%

One week late 40%

Two weeks late 20%

Required - Determine the transaction price that Robotics should use for this contract when it is signed.

Reference no: EM132889994

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