Business, 27.12.2020 16:40 celestesanchezts

Summary data for Benedict Construction Co.'s (BCC) Job 1227, which was completed in 2021, are presented below: Bid price $450,000
Contract cost:2020 (180,000)
2021 (195,000)
Gross profit: 75,000
Estimated cost to complete:
12/31/2020$200,000
12/31/2021 0
Assuming BCC recognizes revenue over time according to percentage of completion for this contract, the gross profit recognized in 2020 would be (rounded to the nearest thousand):
A.) 33,000
B.) 36,000
C.) 69,000
D.) 30,000

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Summary data for Benedict Construction Co.'s (BCC) Job 1227, which was completed in 2021, are presen...

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