Question: Star Construction Corp. has a contract to construct a building for $ 1 0 , 8 6 8 , 9 0 0 . The building

Star Construction Corp. has a contract to construct a building for $10,868,900. The building is controlled by the customer throughout
the term of the contract. Total costs to complete the building were originally estimated at $8,793,500. Construction commenced on 4
February 205. Actual costs were in line with estimated costs for 205 and 206. In 207, actual costs exceeded estimated costs by
$140,500.
Total construction costs incurred in each year were as follows:
Billings (and cash collections) each year were as follows:
Required:
Calculate the revenues and gross profit for the construction project for each of the three years assuming the company uses inputs to
measure progress. (Round intermediate calculations to 2 decimal places. Round final answers to nearest whole dollars.)
 Star Construction Corp. has a contract to construct a building for

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