Question
Exhibit 17-1 The following information relates to a project of the Cumberland Construction Company: 201620172018Actual total costs incurred to date$136,000$616,000$882,000Estimated costs to complete714,000264,000-- The contract
Exhibit 17-1
The following information relates to a project of the Cumberland Construction Company:
201620172018Actual total costs incurred to date$136,000$616,000$882,000Estimated costs to complete714,000264,000--
The contract price was $1,200,000. Cumberland uses the cost-to-cost method of revenue recognition.
Refer to Exhibit 17-1. What amount of revenue would be recognized in 2016?
$400,000
$136,000
$0
$192,000
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Cornerstones of Cost Management
Authors: Don R. Hansen, Maryanne M. Mowen
4th edition
1305970667, 978-1337514842, 1337514845, 978-1305970663
