1. How much is the company charging for the entire project?

2. Determine the schedule revenue recognition using Percentage of Completion Method.

SCQ Corporation is involved in the construction of a large infrastructure that will take four years to build. For the first year, it is estimated that the company will use up 10% of the total cost; 20% for the second year; 30% for the third year, and 40% for the fourth year. The project will make a profit of P2,500,000 based on estimated costs of P7,500,000 Note: Take note/screenshot of the information provided here, this will not be shown again. This will be the basis for your answers in the succeeding questions. Next >