FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You enter into a three year service contract. The total contract price is $22383. Costs incurred in the first year are $4128 and the expected

You enter into a three year service contract. The total contract price is $22383. Costs incurred in the first year are $4128 and the expected costs to complete the contract are $7923. How much profit will be recognized on this contract in the first year?

Select one:

a. $10332.00

b. $3539.17

c. $0

d. $6253.14

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management Audit Approach In Writing Business History A Comparison With Kennedys Technique On Railroad History

Management Audit Approach In Writing Business History A Comparison With Kennedys Technique On Railroad History

Authors: Allen Bures

1st Edition

1138980277, 978-1138980273

More Books

Students also viewed these Accounting questions

Question

★★★★★
How does management accounting differ from financial accounting?

Answered: 1 week ago

Question

★★★★★
Simplify. i 11

Answered: 1 week ago

Question

★★★★★
10.55 Midsized cars gas mileage change Refer to the previous exercise. Statistics of the change in the overall performance and the city performance are summarized in the following table: a. Explain...

Answered: 1 week ago

Question

★★★★★
Qwik Repairs has over 200 auto-maintenance service outlets nationwide. It provides primarily two lines of service: oil changes and brake repair. Oil changerelated services represent 70% of its sales...

Answered: 1 week ago

Question

★★★★★
You enter into a three year service contract. The total contract price is $22383. Costs incurred in the first year are $4128 and the expected costs to complete the contract are $7923. How much profit...

Answered: 1 week ago

Question

★★★★★
1. Computing labour productivity and its relationship to the demandfor labour Gopher Excavators produces shovels in a small factory and sells the shovels in a competitive market. The following table...

Answered: 1 week ago

Question

★★★★★
2 . 1 The logistical drivers of supply chain include facilities and transport. How would you relate these to material flow? ( 1 5 ) 2 . 2 Price and quality are key factors in consumer buying...

Answered: 1 week ago

Question

★★★★★
2 3 points Determine the force P required to maintain equilibrium of the 128.6 lb container. Report the force P in units of pounds to one decimal point. Type your answer

Answered: 1 week ago

Question

★★★★★
Which function can be used to specify the width and height of an OpenGL window? glfwCreateWindow, glfwInit, gladLoadGLLoader, or glViewport

Answered: 1 week ago

Question

★★★★★
E.) Develop appropriate access control protocols that provide an appropriate amount of protection while allowing users to continue to operate without denial of service. F.)Justify your access control...

Answered: 1 week ago

Question

★★★★★
Explain the transformation of I.T. service lines and operations processes resulting in transformed business models - do not use other definitions or outsource. In your own words

Answered: 1 week ago

Question

★★★★★
3. Compare the news coverage for a political controversy on the Web sites of Fox News, CNN, MSNBC, NPR, and the wire services (AP and Reuters). What are the similarities? What are the differences?...

Answered: 1 week ago

Question

★★★★★
1. Define mass and mediated communication

Answered: 1 week ago

Question

★★★★★
2. Describe how the business of media and the principle of free speech shape the kinds of media content you encounter

Answered: 1 week ago

Previous Question Next Question