Question: Summary data for Benedict Construction Company's (BCC) Job 1227, which was completed in 2024, are presented below: Bid price Contract cost: Gross profit: Estimated cost

Summary data for Benedict Construction Company's (BCC) Job 1227, which was completed in 2024, are presented below: Bid price Contract cost: Gross profit: Estimated cost to complete: 12/31/2023 12/31/2024 a. b. C. d. 2023 $ 38,941 $ 32,800 $ 71,547 $0 Assuming BCC recognizes revenue upon project completion, what would gross profit have been in 2023 and 2024 (rounded to the nearest thousand)? Multiple Choice 2023 2024 O option a $ 207,000 0 $ 520,000 (208,000) (230,000) 82,000 2024 $ 43,059 $ 49,200 $ 10,453 $82,000
Summary data for Benedict Construction Company's (BCC) Job 1227, which was

Summary data for Benedict Construction Company's (BCC) Job 1227, which was completed in 2024, are presented below: Estimated cost to complete: Assuming BCC recognizes revenue upon project completion, what would gross profit have been in 2023 and 2024 (rounde Multuple Choice optiona

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