The percent completed, revenue and gross profit for the current year. Given information: Contract price is $85,000. Actual construction cost for 2018 is $12,000. Estimated total cost for 2018 is $60,000.

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Chapter 8, Problem 8.18BE

To determine

The percent completed, revenue and gross profit for the current year.

Given information:

Contract price is $85,000.

Actual construction cost for 2018 is $12,000.

Estimated total cost for 2018 is $60,000.

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