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On May 1,2025, Cullumber Construction Company contracted to construct a factory building for a total...

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Accounting

On May 1,2025, Cullumber Construction Company contracted to construct a factory building for a total contract price of $8,310,000. The building was completed by May 31,2027. The annual contract costs incurred, estimated costs to complete the contract, and accumulated billings to Fabrik for 2025,2026, and 2027 are given below.
\table[[,2025,2026,2027],[Contract costs incurred during the year,$2,871,000,$2,304,900,$1,914,100
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