Choose the term that best matches the description given.

Superior Construction Co. was contracted to plaster all the buildings of a historical preservation project for $2,500,000 over t

Cerrena [4.2K]

Answer:

Gross Profit in Year 1 = $200000

so correct option is B. $200,000

Explanation:

given data

historical preservation project = $2,500,000

time = 2 year

estimated costs = $2,000,000

Actual costs Years 1 = $800,000

Actual costs Years 2 = $900,000

to find out

what amount of gross profit would Superior report in Year 1

solution

we find here first Percentage Completion that is express as

Percentage Completion = Cost to date ÷ Estimated Total Cost .............1

put her value we get

Percentage Completion = $\frac{800000}{2000000}$

Percentage Completion = 40%

and

Revenue Recognized will be here

Revenue Recognized = Percentage Completion × Total estimated Revenue ...............2

Revenue Recognized = 40 % × 25000000

Revenue Recognized = 1000,0000

so here Gross Profit in Year 1 will be

Gross Profit in Year 1 = Revenue Recognized - Cost to date of year 1 ..............3

Gross Profit in Year 1 = 1000,0000 - v800000

Gross Profit in Year 1 = $200000

so correct option is B. $200,000

3 0

3 years ago

Environmental Designs issues 3,000 shares of its $1 par value common stock at $15 per

patriot [66]

Environmental Designs issues 3,000 stocks of its $1 par cost not unusual stock at $15 per share. magazine entries required

1) coins (3000 stocks x $ 15) $45,000

not unusual stock - at par (3000 shares x $ 1 par)= $3,000

extra paid-in capital in extra of Par - not unusual inventory $45,000 - $three,000= $forty two,000

(to document issuance of stock)

2) coins $45,000

not unusual inventory - no par $45,000

(to document issuance of stock)

Examples of the environmental designs technique encompass the use of roadway noise laptop fashions in the design of noise obstacles and the use of roadway air dispersion fashions in reading and designing city highways.

Environmental design is the ordering of the big-scale factors of the environment by means of structure, engineering, panorama architecture, urban making plans, regional planning, and so forth., typically in a mixture. the have a look at or exercise of this.

An environmental design diploma is an education program that teaches college students how to design environmentally sustainable areas. students enrolled in this degree program discover ways to make design selections that benefit both human beings and the herbal surroundings.

Learn more about environmental design here: brainly.com/question/12393940

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8 0

1 year ago

Jesse works for a canning factory that creates soda cans for distribution. his job is to move identically filled boxes from the

BigorU [14]

The correct answer is mass production. Mass production is being defined as having to manufacture products in large quantities by which they are likely utilized by an assembly of line technology. This is a process by which it creates similar products in large numbers.

3 0

3 years ago

Brian vargo, an auto repair mechanic who remains unemployed because he refuses to work for less than $1,000 an hour, is:

Verizon [17]

The answer is he is not part of the labor force. Since the labor force is comprises of the employed and the unemployed. The remainder— persons who are neither employed nor unemployed are not in the labor force. This group comprises retired persons, students, those taking care of children or other family members, and others who are neither working nor seeking work. Since the mid-1990s, naturally fewer than 1 in 10 people not in the labor force stated that they want a job.

3 0

3 years ago

Herman Company has three products in its ending inventory. Specific per unit data at the end of the year for each of the product

Troyanec [42]

Answer and Explanation:

Given:

Product 1 Product 2 Product 3

Cost of product $20 $90 $50

Selling price $40 $120 $70

Selling cost $6 $40 $10

Computation:

Product 1 Product 2 Product 3

Product Cost $20 $90 $50

N.R.V ($40-$6)=$34 ($120-$40)=$80 ($70-$10)=$60

Per Unit Inventory Value $20 $90 $50

4 0

3 years ago