88 FE Use the following information for the next two questions: Bass Co. appropriately its progress on uses the cost-to-cost method in measuring a construction contract with a customer. Information on this contract, which was completed in 20x3, is shown below: Transaction price 20x1 20x2 20x3 20,000,000 20,000,000 20,000,000 at f. Profit each year 400,000 1,400,000 (200,000) Costs incurred each year 3,600,000 ? 8,200,000 (AICPA - Adapted) 10. How much are the contract costs incurred in 20x2? a. 5,800,000 b. 6,200,000 c. 6,600,000 d. 10,200,000 How much are the estimated additional costs to complete as of December 31, 20x2? a. 5,400,000 b. 6,800,000 c. 7,200,000 d. 8,600,000