IFRS 15 (Revenue Recognition)

Dear Sir

Please help me to understand the timing of revenue recognition as per IFRS 15 of the below scenario and its corresponding expense:

MNO Robotics Limited has built a complex piece of robotic manufacturing equipment for a customer.

The machine is built to specifications from the customer. These specifications include what functions the equipment should be able to perform and performance levels to achieve, in a wide range of circumstances.

The reporting entity has extensively tested the equipment and believes it meets all the specifications. Nevertheless, according to the contract, the customer will not formally accept the asset until six months after delivery. If, before that time, it turns out that the equipment does not function completely as specified, the entity must make repairs or adjustments.

80% of the consideration is paid after installation, the remaining is paid after six months from delivery date if the customer accepts the equipment.

Price of the robot amounting to $600,000 and cost of manufacturing of the robot is $ 300,000.

Thanks in advance. Appreciate your time and effort!!

Warm regards
Mymoon