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Exhibit 17-2 in 2016, Omega Construction Began Work on a Contract with Contract

Question 78

Multiple Choice

Exhibit 17-2
In 2016, Omega Construction began work on a contract with a price of $850,000 and estimated costs of $595,000. Data for each year of the contract are as follows: Exhibit 17-2 In 2016, Omega Construction began work on a contract with a price of $850,000 and estimated costs of $595,000. Data for each year of the contract are as follows: -Refer to Exhibit 17-2. Assuming the performance obligation is satisfied over time, what would be the balance in Construction in Progress at the end of 2017? A) $557,600 B) $659,600 C) $680,000 D) $782,000
-Refer to Exhibit 17-2. Assuming the performance obligation is satisfied over time, what would be the balance in Construction in Progress at the end of 2017?


A) $557,600
B) $659,600
C) $680,000
D) $782,000

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