Pickle Construction DivisionThe Pickle Construction Division was working on one project for the 2012 fiscal year. They usethe percentage of completion revenue recognition method.Contract for new administration buildingTotal contract amount$60,000,000Contract grant dateAugust 14, 2012Construction beganSeptember 1, 2012Estimated cost to complete at beginning of contractEstimated time to complete projectAs of Dec 31, 2012Construction costs incurred to dateBillings to dateExpected costs to complete $ 52,000,0002 years $$$ 14,140,00019,500,00036,360,000
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