PARAMOUR Co. was contracted by LOVER, Inc. for the construction of a flyover in 20x1. The contractprice is P10M. Information on costs is as follows:20x120x2Total costs incurred to date1,600,000 6,000,000Estimated costs to complete6,400,000 1,500,000How much revenue isrecognized in 20x2?8M6M4MWhat is the percentage of theprogress completed in 20x2?80%60%40%16%

How Much revenue is recognized in 20×2? Answer Option b:6M Explanation: Revenue to date=6M / (6M +…

PARAMOUR Co. was contracted by LOVER, Inc. for the construction of a flyover in 20x1. The contract price is P10M. Information on costs is as follows: 20x2 20x1 1,600,000 6,000,000 6,400,000 1,500,000 Total costs incurred to date Estimated costs to complete How much revenue is recognized in 20x2? 8M 6M 4M

PARAMOUR Co. was contracted by LOVER, Inc. for the construction of a flyover in 20x1. The contract price is P10M. Information on costs is as follows: 20x2 20x1 1,600,000 6,000,000 6,400,000 1,500,000 Total costs incurred to date Estimated costs to complete How much revenue is recognized in 20x2? 8M 6M 4M

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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H1.
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The total price for purchasing a concrete block making plant is (10) million Iraqi dinars. The price of one in the market is (100) Iraqi dinars, and the cost of maintenance and labor wages is (75) dinars, including the cost of raw materials per block, find with the detailed explanation: 1_ In which unit can we find the break-even point (BEP) 2- If an operating advance is withdrawn in The starting point is (2) million dinars. In any construction unit, the break- even point could be. 3- If the variable values after the unit (2 50,000) change by 10%, when will the break-even point occur if the annual production is (290000) concrete bIocks.I
In 20A, Domingo presented total variable costs at P687.50; total fixed costs at P6,750,000; sales price per unit P1,250; sold 20,000 units; tax rate at 40%. What is the required sales amount to equal 20A net income after tax if the company is the entity is to spend P562,500 in 20B?* O P22,250,000 O P24,450,000 O P26,250,000 O None of the above
Organic Laboratories allocates research and development costs to its three research facilities based on each facility's total annual revenue from new product developments: Total Facility locatión Kentucky Arizona Illinois New product $ 62,587,200 $ 100,360,000 $ 77,772,800 $ 240,720,000 revenue Research & $ 60,360,000 Development Using revenue as an allocation base, the amount of costs allocated to the Kentucky research facility is calculated to be: Multiple Choice $24,072,000. $15,693,600. $244,504,000. $9,018,000. $18,036,000.
PIz-3 Renton Corporation incurred total joint cost of P150.000 to manufacture three joint products, R, E ,and N. These products were further processed for an additional cost of P230,000 and then sold for P410,000 as follows: Additional Processing Costs (all variable) P100,000 80,000 50,000 P230,000 Product Sales P200,000 120,000 90,000 P410,000 N Renton received an offer to sell the products to other processors at split-off. If the offer was accepted, sales would have been: R, P110,000; E, P20,000; and N, P35,000. Rentòn forecasts the same production and sales level. Required: Did the net income increase as a result of processing the products further? How much is the overall net income? а. b. Which of the three products should be sold at split-off point? Which should be processed further? RE
A contractor is assembling a bid for a lump-sum building project. The summation of all task costs is $15,000,000. Annual company revenue is $400 million, and annual home office costs are $25 million. Total job office overhead is estimated to be $3 million and desired profit is 11%. Include O&P, what lump-sum price should the contractor bid?
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WSM Corporation, Need assistance with Req A, Req B1, Req B2
A factory can produce 1,20,000 units per annum at its optimum (100%) capacity. The estimated costs of production are as under: Direct Material Tk 6 per unit Direct labor Tk 4 per unit Indirect Expenses: Fixed Tk 3,00,000 Variable Tk 2.50 per unit Semi-variable Tk30, 000 per annum up to 40% capacity and an extra expense of Tk 15,000 for every 20% increase in capacity or part thereof. The factory produces only against orders (and not for own stock). If the production of the factory is as indicated below and management desires to earn profit of 20% on sales for the year, work out the average selling price at which each unit should be quoted: First 2 months of the year: 30% capacity: Remaining months of the year 75% capacity. Ignore selling, distribution and administrative overheads.