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Category > Accounting Posted 05 May 2017 My Price 3.00

Page Manufacturing Company uses the percentage

Page Manufacturing Company uses the percentage-of-completion method of recognizing income on its long-term projects. During 2006, Page agreed to make a specialized production system for $1,000,000. Information relating to the contract is as follows: December 31, 2006: Percentage of completion: 20%, Estimated total costs at completion: $750,000, Income recognized (cumulative): $50,000. December 31, 2007: Percentage of completion: 60%, Estimated total costs at completion: $800,000, Income recognized (cumulative): $120,000. Contract costs incurred during 2007 were Answer

    $320,000.
    $330,000.
    $350,000.
    $480,000.

Answers

Alpha Geek
(8)
Status NEW Posted 05 May 2017 11:05 AM My Price 3.00

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file 1493985571-Answer.docx preview (93 words )
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