1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
SCORPION-xisa [38]
3 years ago
14

Franklin Construction entered into a fixed-price contract to build a freeway-connecting ramp for $54 million. Construction costs

incurred in the first year were $44 million and estimated remaining costs to complete at the end of the year were $27 million.How much gross profit or loss will Franklin recognize in the first year if it recognizes revenue over time according to percentage of completion method
Business
1 answer:
lara31 [8.8K]3 years ago
7 0

Answer:

$15 million

Explanation:

Franklin Construction

Construction costs incurred $54,000,000

Less total estimated costs ($44+$27) $69million

The anticipated loss $15 Million

Franklin will recognize anticipated gross loss of $15 million in the first year if it recognizes revenue over time according to percentage of completion method which is ($54 million contract price less total estimated costs of $69million)

You might be interested in
(True/False) A decrease in demand means that quantity demanded is lower at each price level.
Bas_tet [7]

Answer:

True

Explanation:

A decrease in demand means that consumers plan to purchase less of the good at each possible price

7 0
4 years ago
involves defining and documenting the features and functions of the products produced during the project as well as the processe
Sav [38]

Answer:

The correct answer is d. Collecting requirements.

Explanation:

The requirements include the quantified and documented needs, wishes and expectations of the sponsor, the client and other stakeholders.

They must be formally documented and formally approved.

This process allows managing the expectations of the interested parties and documenting the needs to turn them into project requirements.

It provides the basis for defining and managing the scope of the project, including the scope of the product.

5 0
4 years ago
Name two programs created by the economic opportunity act.
Flauer [41]

Answer:

Among the other programs funded by the EOA were the Neighborhood Youth Corps, which provided training and jobs for young people (age 16–21) from impoverished families, work-study programs, and community action programs. The act also provided loans to small businesses and farmers.

5 0
3 years ago
A _____ is a written document with detailed specifications that is used to request bids for equipment, supplies, or services fro
SCORPION-xisa [38]

The answer is a request for proposal

If this helps mark me the brainiest please and thank you

6 0
3 years ago
Johnson Electronics is considering extending trade credit to some customers previously considered poor risks. Sales would increa
torisob [31]

Answer:

a) $       40,480  

b) 17.60%  

Explanation:

Working:  

 

a. Increase in sales a 2,30,000  

Less:    

  • Bad debts expenses

b=a*5% 11,500  

  • Collection costs

c=a*2% 4,600  

  • Production ans selling costs

d=a*71% 1,63,300  

  • Earning before tax

e=a-b-c-d 50,600  

  • Less: Tax @ 20%

f=e*20%

10,120  

Net Income 40,480  

b)Return on sales  

Net Income/Sales  

40480/230000  

17.60%

6 0
4 years ago
Other questions:
  • A firm has fixed operating costs of​ $650,000, a sales price per unit of​ $20, and a variable cost per unit of​ $13. at a base s
    5·1 answer
  • DEF Corporation had two issues of ordinary preferred stock with a $100 par value traded on the NYSE. One issue paid $5.56 annual
    13·1 answer
  • Rihanna, Inc. sells watches for $100 per watch. The variable expenses are $20 per unit, and the fixed expenses total $80,000 per
    11·1 answer
  • If the principal decides to __________ the unauthorized agent's signature, the principal will then become liable for the instrum
    5·1 answer
  • Explain the difference between the terms demand and quantity demanded
    12·1 answer
  • An employee in your department has been coming to work 20 minutes late for the past week. the rest of the employees have picked
    6·2 answers
  • When the Fed wants to expand the money supply through open market operations, it:______
    6·1 answer
  • Due to ____, market forces should realign the cross exchange rate between two foreign currencies based on the spot exchange rate
    10·1 answer
  • The advent of containerization has:
    15·1 answer
  • Heating degree-day and cooling degree-day futures contracts make payments based on whether the temperature is abnormally hot or
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!