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BBB Co. has a 3-year contract to build a bridge for $100,000 (revenue). A reliable total cost estimate for the project is $60,000. Variable
BBB Co. has a 3-year contract to build a bridge for $100,000 (revenue). A reliable total cost estimate for the project is $60,000. Variable consideration has already been taken into account. Actual costs are shown below: Year Cost 1 $21,000 2 $24,000 3 $15,000 Revenue Gross Profit Using the Percentage of Completion method, gross profit in years 1 & 2 is: ?
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Financial Reporting And Analysis
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
8th Edition
1260247848, 978-1260247848
