Assume the following (T&M Contract): A budget has been established to install 400 ft of pipe at an estimated 150 man hours and a billable cost of $5,040 (note: bare labor cost is $3,360). The original schedule planned for 80 ft of pipe to be installed per day by a 3-man crew working an 8-hour shift. The job was scheduled to start on Monday and finish on Friday. On Monday 60 ft of pipe was installed. On Tuesday 70 ft of pipe was installed and on Wednesday 50 ft of pipe was installed. Actual cumulative man hours incurred to-date is 72 hrs. Note: Assume that $1,000 has been billed to the client to-date. What is the current earned dollar value of the work in place (completed)? a. $1.780 b. $2,268 c. $4,500.50 d. $2,800.27

The following selected circumstances relate to pending lawsuits for erismus, inc. erismus’s fiscal year ends on december 31. financial statements are issued in march 2019. erismus prepares its financial statements according to u.s. gaap. required: indicate the amount erismus would record as an asset, liability, or not accrued in the following circumstances. 1. erismus is defending against a lawsuit. erismus's management believes the company has a slightly worse than 50/50 chance of eventually prevailing in court, and that if it loses, the judgment will be $1,000,000. 2. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages could fall anywhere in the range of $2,000,000 to $4,000,000, with any damage in that range equally likely. 3. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages will eventually be $5,000,000, with a present value of $3,500,000. 4. erismus is a plaintiff in a lawsuit. erismus's management believes it is probable that the company eventually will prevail in court, and that if it prevails, the judgment will be $1,000,000. 5. erismus is a plaintiff in a lawsuit. erismus’s management believes it is virtually certain that the company eventually will prevail in court, and that if it prevails, the judgment will be $500,000.