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lbvjy [14]
3 years ago
10

Bretts Construction Company had a contract starting April 2017, to construct a $6,000,000 building that is expected to be comple

ted in September 2018, at an estimated cost of $5,500,000. At the end of 2017, the costs to date were $2,530,000 and the estimated total costs to complete had not changed. The progress billings during 2017 were $1,200,000 and the cash collected during 2017 was $800,000. For the year ended December 31, 2017, Bretts would recognize gross profit on the building of:
Business
1 answer:
ExtremeBDS [4]3 years ago
4 0

Answer: $230,000

Explanation:

Gross profit to be earned from project:

= Construction price - cost of construction

= 6,000,000 - 5,500,000

= $500,000

Percentage of costs incurred in 2017:

= 2,530,000 / 5,500,000 * 100%

= 46%

The Gross profit for 2017 is therefore:

= Percentage of cost incurred * total gross profit

= 46% * 500,000

= $230,000

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The amount supplied will be greater than the amount demanded is non-price factors, such as discrimination or waiting in line, will play a greater role in the allocation of the good.

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4 0
2 years ago
Variable costs of service departments are allocated to user departments using ________ cost rates instead of ________ cost rates
Fed [463]

Answer:

answer c is correct i did this

8 0
3 years ago
Christopher sold 100 shares of Cisco stock for $5,500 in the current year. He purchased the shares several years ago for $2,200.
alexgriva [62]

Answer:

tax at 15 %  gain = $495

Explanation:

given data

sold = 100 shares

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purchased shares = $2,200

income tax rate = 24 percent

to find out

how much tax will he pay on this gain

solution

we know here that at long term gain  we have given Sale value  and Cost of stocks

so here total Gain will be

gain = Sale value - Cost of stocks    ...............................1

put here value

gain = Sale value - Cost of stocks

gain = $5,500 - $2,200

gain = $3,300

so here we can say that

tax is 15 %

tax at 15 %  gain = 15 % of $3,300

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as we know his marginal rate on ordinary gain is above 15%

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3 0
3 years ago
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The answer is C it should be cooked at least 145


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3 years ago
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umka2103 [35]

Answer:

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7 0
3 years ago
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