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Camden Corporations agreed to build a warehouse for a client at an agreed contract price of $1,800,000. Expected (and actual) costs for the warehouse follow:

Camden Corporations agreed to build a warehouse for a client at an agreed contract price of $1,800,000. Expected (and actual) costs for the warehouse follow: 2016, $405,000; 2017, $675,000; and 2018, $270,000. The company completed the warehouse in 2018. Compute revenues, expenses, and income for each year 2016 through 2018, and for all three years combined, using the cost-to-cost method.

Cost-to-Cost Method
% of total
Costs expected Revenue
Year incurred costs recognized Income
2016 Answer Answer Answer Answer
2017 Answer Answer Answer Answer
2018 Answer Answer Answer Answer
Total Answer Answer Answer

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