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- 1 3 On February 1 , 2 0 2 3 , Ivanhoe Contractors agreed to construct a building at a contract price of $

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On February 1,2023, Ivanhoe Contractors agreed to construct a building at a contract price of $5,730,000. Ivanhoe estimated total construction costs would be $3,944,000 and the project would be finished in 2025. Information relating to the costs and billings for this contract is as follows:
\table[[,2023,2024,2025],[Total costs incurred to date,$1,479,000,$2,598,000,$4,565,000
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