BPP kit 2021-Revenue

Hello, can u help me with this question:
Carraway Co entered into a contract on 1 January 20X5 to build a factory for Chia Co.
The total contract price was $2.8 million. Chia Co obtains control of the factory as the
asset is constructed.
Carraway Co has an enforceable right for payment for completion of the factory
completed to date. The contract states that the performance obligations are measured
according to certificates issued by the surveyor.
At 31 December 20X5 the contract was certified by the surveyor as 35% complete.
Costs to complete are estimated at $1.4 million. $800,000 has been invoiced to the
customer but not yet paid.
Identify by selecting the correct options below, whether the contract will be recognised
as a contract asset or liability and what the carrying amount will be in the statement of
financial position of Carraway Co as at 31 December 20X5?

I checked the solution, it said:
Revenue accrued $2,800,000*35% 980,000
Less amounts invoiced to date (800,000)
Contract asset 180,000

I dont understand why 2,800,000(which is total price)*35% – 800,000 is Contract asset, i thought the formular is cost incurred+profit recognised-amount invoiced?