Question: Hi. I need help with the first dropdown option and the last two numbers. Thanks. Curran Computer Consultants (CCC) signed a contract in 2022 to

 Hi. I need help with the first dropdown option and thelast two numbers. Thanks. Curran Computer Consultants (CCC) signed a contract in

Hi. I need help with the first dropdown option and the last two numbers. Thanks.

Curran Computer Consultants (CCC) signed a contract in 2022 to develop a computer network system for Lima Entertainment. Curran uses the percentage-of-completion method and determines its measure of progress using the cost-to-cost approach. The firm provided the following information for 2022. (Click the icon to view the contract information.) Compute the percentage completed, gross profit recognized, and the amount of the revenue recorded in 2022, Select the formula and enter the amounts into the table below to compute the percentage completed. (Round your answer to the nearest whole percent.) Cumulative Actual total cost of the project Estimated total cost of the project percentage complete Contract information 14 % 12,320 87,000 = $ 87.000 Contract price 2022 12.320 $ 56,000 Actual construction costs incurred during the year Estimated total costs Progress billings made during the year Cash collections during the year $ 30.800 31.000 $ Print Done Actual total cost of the project Cash collections during the year Estimated total cost of the project Progress billings made during the year Total costs incurred to date Total costs in excess of billings Total revenue incurred to date

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