P18-11 (Long-Term Contract with Interim Loss)
P18-11 (Long-Term Contract with Interim Loss) on March 1, 2014, Pechstein Construction Company contracted to construct a company building for Fabrik Manufacturing Inc. for a total contract price of $8,400,000. The building was completed by October 31, 2016. The annual contract costs incurred, estimated costs to complete the contract and accumulated billings to Fabrik for 2014, 2015 and 2016 are given below

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