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When answering questions five through seven, suppose that instead of agreeing on a fixed contract price, Fluor and Atlantis agreed to the following performance-based schedule:
When answering questions five through seven, suppose that instead of agreeing on a fixed contract price, Fluor and Atlantis agreed to the following performance-based schedule: On the day that Fluor signed the contract, it estimated the total cost of constructing the plant to be $20,000,000 and during the month of December 31, 2021, Fluor incurred costs of $1,300,000. What is variable consideration (with respect to the water treatment plant) on the day that Fluor signed the contract? Your answer should be in dollars. It should be an integer and you should omit the dollar sign. Question 6 2.5pts How much revenue (with respect to the water treatment plant) did Fluor recognize in 2021? Your answer should be in dollars. It should be an integer and you should omit the dollar sign. Question 7 2.5pts How much gross profit (with respect to the water treatment plant) did Fluor recognize in 2021 ? Your answer should be in dollars. It should be an integer and you should omit the dollar sign
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