Question: Percentage-of-Completion Method: Dalton Construction Co. contracted to build a bridge for $10,000,000. Construction began in 2012 and was completed in 2013. Data relating to the

Percentage-of-Completion Method: Dalton Construction Co. contracted to build a bridge for $10,000,000. Construction began in 2012 and was completed in 2013. Data relating to the construction are: Costs incurred......................2012 - $3,300,000.....2011..............$2,750 Estimated costs to complete.....2012 - $2,700,000 A. How much revenue should be reported for 2012? Show your computations B. Make the entry to record progress billings of $3,300,000 during 2012 C. Make the entry to record the revenue and gross profit for 2012 D. How much gross profit should be reported for 2013? Show your computations. I need this by Saturday, February 4, 2012. Thank you

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