Extracted text: Problem 2 CONSTRUCTION COMPANY is executing a construction project, which is expected to take three years. P12,000,000. The company has signed a fixed price contract for The details of the costs incurred to date 2020 are as follows: Site labor costs 1,000,000 3,000,000 500,000 1,000,000 5,000,000 5,500,000 Costs of construction material Depreciation of PPE used in construction Marketing and selling costs EDIE Total Total contract costs estimated to complete Determine the revenue, costs and profits to be recognized overtime in 2020. GROSS REVENUE COSTS PROFIT/ (LOSS) 5,400,000 5,400,000 6,000,000 6,000,000 A. 4,500,000 5,500,000 4,500,000 5,500,000 900,000 (100,000) 1,500,000 900,000 в. c. D.