The percent completed, revenue and gross profit for all the years. Given information: Contract price is $700,000. Actual construction cost for 2018 is $140,000. Actual construction cost for 2019 is $130,000. Actual construction cost for 2020 is $160,000. Estimated total cost for 2018 is $400,000. Estimated total cost for 2019 is $360,000. Estimated total cost for 2020 is $430,000.

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Chapter 8, Problem 8.17BE

To determine

The percent completed, revenue and gross profit for all the years.

Given information:

Contract price is $700,000.

Actual construction cost for 2018 is $140,000.

Actual construction cost for 2019 is $130,000.

Actual construction cost for 2020 is $160,000.

Estimated total cost for 2018 is $400,000.

Estimated total cost for 2019 is $360,000.

Estimated total cost for 2020 is $430,000.

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