Question
ABC Ltd is a construction company. It has a contract of 66,000 and its estimated cost is 50,000, and total cost to date is 10,000.
ABC Ltd is a construction company. It has a contract of 66,000 and its estimated cost is 50,000, and total cost to date is 10,000. The percentage completion of this contract is to be based on the costs to date compared to the estimated total contract costs. This contract is going to be completed in 2022. Therefore, how much profit is going to be in the Income Statement?
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Introduction To Cost Accounting
Authors: Don R. Hansen, Maryanne Mowen, Liming Guan, Mowen/Hansen
1st International Edition
0538749636, 978-0538749633
