Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Could you please assist to complete the following table? This is an exercise regarding the percentage completion of a contract. I have already created the
Could you please assist to complete the following table? This is an exercise regarding the percentage completion of a contract. I have already created the table with the revenues and cost, but I am having trouble creating the reports for the following year.
Here is the table with the amounts:
2020 2021 2022
This is what i am looking to fill out:
Thank you in advance!!
\begin{tabular}{|l|r|r|r|} \hline Contract price & 1,890,000 & 1,890,000 & 1,890,000 \\ \hline Cost to date & 268,200 & 1,253,700 & 2,098,300 \\ \hline Estimated add cost & 1,221,800 & 736,300 & - \\ \hline Total cost & 1,490,000 & 1,990,000 & 2,098,300 \\ \hline \% completed & 18% & 63% & 100% \\ \hline Revenue to date & 340,200 & 1,190,700 & 1,890,000 \\ \hline Previous revenue & - & 340,200 & 1,190,700 \\ \hline Current Revenue & 340,200 & 850,500 & 699,300 \\ \hline Cost to date & 268,200 & 985,500 & 844,600 \\ \hline Gross profit & 72,000 & (135,000) & (145,300) \\ \hline \end{tabular} 2021 $ \begin{tabular}{|l|r|r|r|} \hline Contract price & 1,890,000 & 1,890,000 & 1,890,000 \\ \hline Cost to date & 268,200 & 1,253,700 & 2,098,300 \\ \hline Estimated add cost & 1,221,800 & 736,300 & - \\ \hline Total cost & 1,490,000 & 1,990,000 & 2,098,300 \\ \hline \% completed & 18% & 63% & 100% \\ \hline Revenue to date & 340,200 & 1,190,700 & 1,890,000 \\ \hline Previous revenue & - & 340,200 & 1,190,700 \\ \hline Current Revenue & 340,200 & 850,500 & 699,300 \\ \hline Cost to date & 268,200 & 985,500 & 844,600 \\ \hline Gross profit & 72,000 & (135,000) & (145,300) \\ \hline \end{tabular} 2021 $Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started