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Brady Construction Company contracted to build an apartment complex for a price of $7,000,000. Construction began in 2021 and was completed in 2023. The following
Brady Construction Company contracted to build an apartment complex for a price of $7,000,000. Construction began in 2021 and was completed in 2023. The following is a series of independent situations, numbered 1 through 6, involving differing costs for the project. All costs are stated in thousands of dollars.
Estimated Costs to Complete | ||||||||||||
Costs Incurred During Year | (As of the End of the Year) | |||||||||||
Situation | 2021 | 2022 | 2023 | 2021 | 2022 | 2023 | ||||||
1 | 1,700 | 2,730 | 1,500 | 4,230 | 1,500 | |||||||
2 | 1,700 | 1,500 | 3,200 | 4,230 | 3,200 | |||||||
3 | 1,700 | 2,730 | 3,200 | 4,230 | 3,100 | |||||||
4 | 700 | 3,200 | 1,400 | 4,900 | 975 | |||||||
5 | 700 | 3,200 | 2,700 | 4,900 | 3,100 | |||||||
6 | 700 | 3,200 | 3,800 | 6,555 | 3,500 | |||||||
Required: Complete the following table. (Do not round intermediate calculations. Enter answers in dollars. Round your final answers to the nearest whole dollar. Negative amounts should be indicated by a minus sign.)
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