Percentage-of-Completion Method, Current Year. Cosmo Computer Consultants (CCC) signed a contract in 2018 to develop a computer network system for Platinum Entertainment. Cosmo uses the percentage-of completion method. The firm provided the following information for 2018. Contract price $85,000 Actual construction costs incurred during the year $12,000 Estimated total costs 60,000 Progress billings made during the year 30,500 Cash collections during the year 25,000