The Kenny Construction Co. has been contracted to construct a bridge for $3,000,000 at an estimated cost of $2,000,000. The contract period begins on Jan. 1, 2012 and ends on Dec. 31 2014. The following data pertains to the project: 

2022 20232024

Costs to date: $1,000,000 $2,000,000 $2,500,000

Estimated costs to complete: $1,000,000 $500,00 $0

Calculate the percentage of completion for each year.

Calculate the amount of revenue a

Needing a little help calculating the percentage and amount. I'm getting a little confused. Any help would be apperciated. Thank you.

Answer rating: 100% (QA)

Answer Based on the given data here is the breakdown of costs for each year 2022 ... View the full answer