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Requirement 1($ in millions) 2011 2012 2013Contract price $340 340 340Actual costs to date $70 150 200Estimated costs to complete $150 90 0Total estimated costs $220 240 200Estimated gross profit (actual in 2013) $ 120 100 140Gross profit (loss) recognition:2011: $= $2012: = 2013: Requirement 22011:2012: 2013: Requirement 3Year Gross profit (loss) recognized2011 2012 2013 Total project income $Exercise 5-10 (concluded)Requirement 42011:Revenue: $Cost: $Gross profit: $2012:Revenue: Cost: Gross profit: mce_markernbsp;2013:Revenue: Cost: Gross profit: mce_markernbsp;Requirement 52012: $= $
Requirement 1
($ in millions) 2011 2012 2013
Contract price $340 340 340
Actual costs to date $70 150 200
Estimated costs to complete $150 90 0
Total estimated costs $220 240 200
Estimated gross profit (actual in 2013) $ 120 100 140
Gross profit (loss) recognition:
2011: $
=
$
2012:
2013:
Requirement 2
2011:
Requirement 3
Year
Gross profit (loss) recognized
2011
2012
2013
Total project income
Exercise 5-10 (concluded)
Requirement 4
Revenue: $
Cost: $
Gross profit: $
Revenue:
Cost:
Gross profit: mce_markernbsp;
Requirement 5
2012: $
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