Reference no: EM132802621
On January 1, 2020, Mechathon Inc. accepted a long-term construction contract to build a condominium with a total contract price of P27,000,000. For the two years ended December 31, 2020 and 2021, the following data were provided by Mechathon Inc.:
12/31/2020
General administration cost which is not reimbursable under the contract for the year P1,800,000
Site labor costs including site supervision for the year 3,150,000
Selling costs for the year 3,600,000
Cost of direct materials used in construction for the year 2,250,000
Estimated cost to complete the condominium at year end 3,600,000
12/31/2021
General administration cost which is not reimbursable under the contract for the year P2,700,000
Site labor costs including site supervision for the year 4,500,000
Selling costs for the year 900,000
Cost of direct materials used in construction for the year 3,060,000
Estimated cost to complete the condominium at year end 3,240,000
- Mechathon Inc. billed its client 30% during 2020 and 40% during 2021. The outcome of the construction contract can be estimated reliably.
Problem 1: What is the balance of the Construction in Progress in excess of Progress Billings / (Progress Billings in excess of Construction in Progress) to be presented in the Mechathron's December 31, 2021 Statement of Financial Position?
|
What theory of ethics did officer miller violate
: What is your ethical obligation in this scenario? Expand on the major theory surrounding ethical behavior of police officers, and then offer some alternatives.
|
|
What is the net cash flows provided by operating activities
: Following the indirect method, what is the net cash flows provided/used by operating activities? If it is a positive number (i.e., net cash inflow)
|
|
Distance between adjacent bright regions
: If the distance between adjacent bright regions in the resulting pattern is 8.84 mm, what is the wavelength of the sodium light? Answer in meters.
|
|
Describe the plain view doctrine
: Describe the plain view doctrine, and why it has such a significant impact on digital forensics? What are three approaches to determining whether the doctrine.
|
|
What is balance of the construction in progress
: What is the balance of the Construction in Progress in excess of Progress Billings / (Progress Billings in excess of Construction in Progress) to be presented
|
|
Find how much is jordan budgeted fixed costs at units
: Total production costs for Jordan, Inc. are budgeted at P2,300,000 for 50,000 units of budgeted. How much is Jordan's budgeted fixed costs at 60,000 units?
|
|
Describe horizontal analysis method for financial statement
: Provide a real life business example for the Horizontal Analysis method from the financial statements for a company and its main competitor.
|
|
Calculate willerton market value based capital structure
: Calculate Willerton's market value based capital structure. Assume that the coupon payments are semi-annual. Round the market values to the nearest dollar
|
|
What is the weighted average contribution margin per unit
: Lambardi sells in a mix of 2 units of A, 3 units of B and 5 units of C. What is the weighted average contribution margin per unit for Lambardi
|