Fulton Construction is a general contractor for large construction projects. The budget costs and the time to reach a particular percentage of completion (in months) follows. Also shown are the actual results (cost and months) up to the latest report, which was at the end of month 19. Percentage Complete 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 55% 60% 65% 70% 75% 80% 85% 90% Cost ($000) Budget e 2,236 3,162 3,873 4,472 5,000 5,477 5,916 6,325 6,708 7,071 7,416 7,746 8,062 8,367 8,660 8,944 9,220 9,487 Actual 0 774 1,545 2,308 3,061 3,799 4,520 5,221 5,899 6,553 7,182 7,783 8,356 8,900 9,416 9,902 10,361 10,791 11, 194 Months to Reach Budget Actual 0 0 1 1 2 3 3 4 5 6 7 8 9 10 12 ± 13 14 16 17 0 4 6 8 9 10 11 12 13 13 14 15 15 16 17 17 18 18 19 4

Fulton Construction is a general contractor for large construction projects. The budget costs and the time to reach a particular percentage of completion (in months) follows. Also shown are the actual results (cost and months) up to the latest report, which was at the end of month 19. Percentage Complete 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 55% 60% 65% 70% 75% 80% 85% 90% Cost ($000) Budget e 2,236 3,162 3,873 4,472 5,000 5,477 5,916 6,325 6,708 7,071 7,416 7,746 8,062 8,367 8,660 8,944 9,220 9,487 Actual 0 774 1,545 2,308 3,061 3,799 4,520 5,221 5,899 6,553 7,182 7,783 8,356 8,900 9,416 9,902 10,361 10,791 11, 194 Months to Reach Budget Actual 0 0 1 1 2 3 3 4 5 6 7 8 9 10 12 ± 13 14 16 17 0 4 6 8 9 10 11 12 13 13 14 15 15 16 17 17 18 18 19 4

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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