Use the following to answer questions
McCombs Contractors received a contract to construct a mental health facility for $2,500,000.Construction was begun in 2015 and completed in 2016.Cost and other data are presented below:

-Assume that McCombs recognizes revenue on this contract over time according to percentage of completion.
Required: Compute the amount of gross profit recognized during 2015 and 2016.

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Use the following to answer questions 
McCombs Contractors received a contract to construct a mental health facility for $2,500,000.Construction was begun in 2015 and completed in 2016.Cost and other data are presented below:
 
-Assume that McCombs recognizes revenue on this contract over time according to percentage of completion.
Required: Compute the amount of gross profit recognized during 2015 and 2016.

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The Answer of Use the following to answer questions 
McCombs Contractors received a contract to construct a mental health facility for $2,500,000.Construction was begun in 2015 and completed in 2016.Cost and other data are presented below:
 
-Assume that McCombs recognizes revenue on this contract over time according to percentage of completion.
Required: Compute the amount of gross profit recognized during 2015 and 2016.

Use the Following to Answer Questions