Question
Adler Construction CO. uses the percentage-of-completion method. In 2014, Adler began work on a contract for $6,600,000 and it was completed in 2015. Data on
Adler Construction CO. uses the percentage-of-completion method. In 2014, Adler began work on a contract for $6,600,000 and it was completed in 2015. Data on the costs are:
| Year ended December 31 | 2014 | 2015 |
| Costs Incurred | 2,340,000 | 1,680,000 |
| Estimated costs to complete | 1,560,000 |
For the years 2014 and 2015, Adler should recognize gross profit of?
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Special Edition Of Managerial Accounting Volume 2 For Miami Dade College
Authors: WilD
4th Edition
0077542711, 978-0077542719
