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q12,13 Please use the following intormation to answer Question 12 and 13. Paytine Corp ban apred to construct a new playground for Surrey County for
q12,13
Please use the following intormation to answer Question 12 and 13. Paytine Corp ban apred to construct a new playground for Surrey County for $2,450,000. Construction del the oee plangand will begin in January 2012 and is expected to be completed in Decenter 2013 . N te iging of the contract, Playtime Corp. estimates that it will cort $1800,090 to bald the piavpound. ka te end of 2012 Playtime provided the following information about the proect Date Costsincurred to date Estimated costs remaining Carhaleated bo dits Dec.2012$900,000$900,000 If Playtime uses the percentage of completion to recogrize revenue on the long sum cortrat tion much gross profit should Playtime recognize in 2012? 2012? 433.500 40 9767050 31.150,000 Step by Step Solution
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