During year 1, Meriwether Construction Company started a construction job with a contract price of $3,000,000. The job was completed in year 2 and the company uses the percentage of completion method. The following information is available for year 1 and year 2: Year 1 Year 2 Cost incurred to date $500,000 $2,400,000 Estimated cost to complete 1,500,000 0 Billings to date 300,000 1,800,000 Collections to date 100,000 1,600,000 What amount of gross profit should Meriwether recognize for this job for year 2? A. $250,000 B. $1,000,000 C. $350,000 D. $600,000

Which of the following is one of the advantages primarily associated with a performance appraisal? (a) it protects employees against discrimination on the basis of race. (b) it motivates employees to work on their shortcomings. (c) it encourages employees to play the role of the whistle-blower. (d) it accurately measures the resources of the firm.

Wallace company provides the following data for next year: month budgeted sales january $120,000 february 108,000 march 140,000 april 147,000 the gross profit rate is 35% of sales. inventory at the end of december is $29,600 and target ending inventory levels are 10% of next month's sales, stated at cost. what is the amount of purchases budgeted for january?

Financial performance is measured in many ways. requirements 1. explain the difference between lag and lead indicators. 2. the following is a list of financial measures. indicate whether each is a lag or lead indicator: a. income statement shows net income of $100,000 b. listing of next week's orders of $50,000 c. trend showing that average hits on the redesigned website are increasing at 5% per week d. price sheet from vendor reflecting that cost per pound of sugar for the next month is $2 e. contract signed last month with large retail store that guarantees a minimum shelf space for grandpa's overloaded chocolate cookies for the next year