The Wolverine Group had two construction projects ongoing during the years of 2015, 2016, and 2017. Below is a financial summary of those projects for the 2015-2017 period. The numbers in all columns of the table below are for that year and that project only. Income Tax can be assumed to be 30% for the entire period from 2015-2017. Numbers in (parentheses) indicate negative values.

Project Data (in $1,000 or worker-hour = whr)

	2015		2016		2017
Project Number	1	2	1	2	2
Contract Amount (With Changes)	5,600	8,000	6,000	9,500	10,500
Materials Purchased	600	800	850	1,500	510
Materials Returned	50	0	0	120	0
Materials Paid	500	400	900	1,800	490
Materials Used	370	650	1,030	1,660	380
Wages Incurred	560	680	1,320	840	210
Wages Paid	800	900	1,080	700	130
Subcontractor Cost Incurred	440	1,030	690	1,680	720
Subcontractor Bills	650	1,500	480	1,600	330
Subcontractor Paid	360	1,000	770	2,000	430
Amount Billed to Owner	1,800	3,000	4,200	5,000	2,500
Amount Paid by Owner	1,350	2,880	4,650	5,600	2,020
Amount Retained by Owner	140	300	(140)	420	(720)
Estimated Cost to Complete	2,000	5,300	0	2,300	0
Labor Hours to Date	7,800	8,600	23,300	21,500	26,100
Labor Hours to Complete	12,200	14,500	0	3,700	0

Complete the following two sets of calculations and then answer the questions asked in each set of the project:

(I) Compute the Percentage of Completion using the Cost to Cost method for both projects for each year. Perform the calculations by Alternative A and Alternative B, and up to the row “Company’s Gross Income” using the provided Excel template titled “Template_FinCon_Final_Project_Part1.xlsx”.

(II) Compute the Percentage of Completion using the Labor Hours method for both projects for each year. Perform the calculations by Alternative A and Alternative B, and up to the row “Company’s Gross Income” using the provided Excel template titled “Template_FinCon_Final_Project_Part2.xlsx”.