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Jeeves Co undertook a $7.2 million contract on 3 February X7. The relevant cost information is displayed in the table. The company attributes profit on the basis of cost, and believes that the contract will be completed according to plan.
What figure for attributable profit should be included in the company’s statement of profit or loss for the year ended 31 December X8? Round all calculations to the nearest $0.1million. A. 0 B. $0.6 million C. $2 million D. ($0.2 million) |