Window Help Save & Exit Sube Indiana Co. began During 2018, Indiana incurred $37

Question

Window Help Save & Exit Sube Indiana Co. began During 2018, Indiana incurred $37 million of costs a construction project in 2018 with a contract price of $164 million to be received when the project is completed in 2020 and estimates an additional $83 million of costs to complete the project Indiana recognizes over time and for this project recognizes revenue over time according to the percentage of the project that has been completed Multiple Choice Recognized $8100 million loss on the project in 2018 Recognized no gross profit or loss on the project in 2018 MacBook Air 5 6 7 8 9

Explanation / Answer

total cost of the project =$ 164 miilion

cost Incurred =$ 37 Million

Cost to be Incurred = $ 83 million

Profit to be recognised= 164-37-83=$44 million

Profit earned in 2018 = 44 X 37 / (83+37)= $13.57 million G.P in the year 2018

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