The Consumer Products Division of Weiter Corporation had avera

Contract for new administration building Total Contract Amount $ 60,000,000 Contract Grant Date August 14, 2012 Construction Began September 1, 2012 Estimated Cost to Complete at beginning of contract $ 52,000,000 Estimated Time to Complete Project 2 years As of Dec 31, 2012 Construction Costs incurred to date $ 14,140,000 Billings to date $ 19,500,000 Expected costs to complete $ 36,360,000 The Pickle construction division was working on one project for the 2012 fiscal year. They use the percentage of completion revenue recognition method.