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At the end of the first year, the XYZ Team had incurred $550,000 of cost,...

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Accounting

At the end of the first year, the XYZ Team had incurred $550,000 of cost, with the total estimated cost of $1,050,000. Their total estimated revenue is $1,200,000. If the percentage of completion by labor hours expended is 60.8%, calculate the cost of revenue to date,

  1. By cost to cost method, using Alternative B.
  2. By labor hours expended method, using Alternative B.

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