Business, 14.12.2019 03:31 naiomireyes74p2aybs

Superior construction co. was contracted to plaster all the buildings of a historical preservation project for $2,500,000 over the next 2 years. total estimated costs to complete are $2,000,000. actual costs incurred in years 1 and 2 were $800,000 and $900,000, respectively. using the percentage-of- completion method, what amount of gross profit would superior report in year 1?

a. $225,000
b. $200,000
c. $500,000
d. $250,000

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