Bâtisud is building a warehouse for a customer; the performance obligation is satisfied over time. The transaction price is 800,000. Total expected costs amount to 500,000 and costs incurred at 31 December 20X1, the first reporting date, to 200,000. Bâtisud has concluded that costs incurred faithfully depict its performance. Calculate the percentage of completion and the revenue for 20X1.
- Transaction price
- 800,000
- Total expected costs
- 500,000
- Costs incurred at 31 December 20X1
- 200,000