Conrad construction corp. has a $20 million contract to construct a building. the company estimates gross profit of $4 million. during the current year, the company incurred $2 million of costs on the contract. under the percentage-of-completion method, how much will conrad construction corp. report as revenue in the current year?

Krier industries has just completed its sales forecasts and its marketing department estimates that the company will sell 43,800 units during the upcoming year. in the past, management has maintained inventories of finished goods at approximately 3 months' sales. however, the estimated inventory at the start of the year of the budget period is only 7,300 units. sales occur evenly throughout the year. what is the estimated production level (units) for the first month of the upcoming budget year?