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Hi! Please encode your solution. Zebastian Builders, Inc. employs the cost-to-cost method in determining the percentage of completion for revenue recognition. The company's records show

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Zebastian Builders, Inc. employs the cost-to-cost method in determining the percentage of completion for revenue recognition. The company's records show the following information on a recently completed project for a contract price of Php15,000,000.

2019 2020 2021
Costs incurred to date 2,700,000 9,150,000 ?
Gross profit (loss) 300,000 1,050,000 (150,000)

  1. The percentage of completion in 2019.
  2. The estimated costs to complete the project on December 31, 2020
  3. The actual cost incurred during the year 2021.
  4. Revenue recognized in 2020.

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