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
miss Akunina [59]
3 years ago
9

When accounting for revenue over time for a long-term contract, the percentage of completion used to recognize revenue in the fi

rst year usually is determined by measuring: Multiple Choice Costs incurred in the first year, divided by estimated remaining costs to complete the project. Costs incurred in the first year, divided by estimated total costs for the completed project. Costs incurred in the first year, divided by estimated gross profit. Costs incurred in the first year, divided by estimated total costs to be incurred in the remaining years of the project.
Business
1 answer:
vladimir2022 [97]3 years ago
3 0

Answer:

When accounting for revenue over time for a long-term contract, the percentage of completion used to recognize revenue in the first year usually is determined by measuring Costs incurred in the first year, divided by estimated total costs for the completed project

Explanation:

The percentage of completion method of revenue recognition is a concept in accounting that refers to a method by which a business recognizes revenue on an ongoing basis depending on the stages of a project’s completion.

In other words, the percentage of completion method is used for longer-term projects and recognizes revenue and expenses as a percentage of the project’s completion during the period.

You might be interested in
2. Three years ago, Shawheen deposited $5,000 in a savings account. Today, the account is worth
AnnyKZ [126]

The amount of money Shawheen deposited in his savings account increased in value because of the interest rate his account earns.

The initial deposit might have a higher purchasing power because of inflation.

When money is deposited in a savings account, the amount of money earns interest.

The value of the interest rate can be determined using this formula: interest earned / (time x amount deposited)

Interest earned = $$5,306.04 - $5,000 = $306.04

Interest rate = $306.04 / (3 x $5000) = 2.04%

Inflation is the persistent rise in the general price levels. Inflation reduces the purchasing power of money.

To learn more about inflation, please check: brainly.com/question/18072639

4 0
2 years ago
At the end of April, Cavy Company had completed Job 766 and 765. According to the individual job cost sheets the information is
IceJOKER [234]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Job 765:

Direct material= $5,670

Direct labor= $3,500

Machine Hours= 27

Job 766:

Direct material= $8,900

Direct labor= $4,775

Machine Hours= 44

Job 765 produced 152 units, and Job 766 consisted of 250 units.

Assuming that the predetermined overhead rate is applied by using machine hours at a rate of $200 per hour.

Costs sheet:

<u>Job 765:</u>

Direct material= 5,670

Direct labor= 3,500

Allocated overhead= 200*27= 5,400

Total cost= 14,570

Unitary cost= 14,570/152= $95.85

<u>Job 766:</u>

Direct material= 8,900

Direct labor= 4,775

Allocated overhead= 200*44= 8,800

Total cost= 22,475

Unitary cost= 22,475/250= $89.9

6 0
3 years ago
Who is affected negatively when a country’s currency is weak? Give domestic and foreign examples
fomenos
Its citizens, and government.
5 0
2 years ago
Panther Co. had a quality-assurance warranty liability of $359,000 at the beginning of 2018 and $308,000 at the end of 2018. War
evablogger [386]

Answer:

d.$1,371,000

Explanation:

Given that

Warranty liability at the beginning of year = $359,000

Warranty liability at the end of year = $308,000

Warranty expense = $44 million

Sales percentage = 3%

So, the warranty expense = $44,000,000 × 3% = $13,20,000

So, the warranty expenditures for 2018 is

= Beginning warranty liability + warranty expense - ending warranty liability

= $359,000 + $13,20,000 - $308,000

= $1,371,000

6 0
2 years ago
In the course of creating an effective business message, excellent business thinkers are most likely to
Irina18 [472]

Answer:

a) make well-reasoned conclusions and solutions ; & b) begin jotting down a rough draft right away to capture their ideas.

Explanation:

Effective Business message should be - complete, clear, concise, concrete, correct, courteous, coherent.

Rough draft is good for brainstorming & initial preliminary creation stage of business message. After having a bunch of ideas : its important to well arrange them in a coherent, clear way & giving complete, concise structure. This implies better understanding of conclusions, solutions.

4 0
2 years ago
Other questions:
  • Leslie Bradley is an entrepreneur with a small business in Little Rock, Arkansas. Working with a local engineer/inventor, Leslie
    8·1 answer
  • In 2007, five or six major pharmaceutical companies formed a group in order to control the price of vitamins and adjust their pr
    15·1 answer
  • In the case discussing the electric car industry, which pestel factor is highlighted as the most important factor favoring a sta
    7·1 answer
  • Which of the following items is NOT included in current assets? a. Cash. b. Accounts receivable. c. Bonds. d. Short-term, highly
    8·1 answer
  • Mason and Chenoa orally agree to a contract in which Mason will replace the fixtures in Chenoa’s bathroom. In exchange, Chenoa a
    9·1 answer
  • Suppose a recent and widely circulated medical article reports new benefits of exercise. Simultaneously, the price of the parts
    9·1 answer
  • Ahmed is a department head at Southwest City Hospital. He spends most of his time training and coaching employees to perform the
    5·2 answers
  • QUESTION 9 of 10: You have laid out your pricing plan at $185 for a bounce party for 8 kids; your competitor is at $155. A poten
    10·1 answer
  • Need help ASAP! Tyyyyyy
    9·1 answer
  • Which of the following allows portions of copyrighted materials to be used without permission under certain circumstances?
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!