Question: Summary data for Benedict Construction Co.'s (BCC) Job 1227, which was completed in 2021, are presented below. 18 Bid price Contract cost: 2020 2021 $

Summary data for Benedict Construction Co.'s (BCC) Job 1227, which was completed in 2021, are presented below. 18 Bid price Contract cost: 2020 2021 $ 450,000 (180,000) (195,000) 75,000 8 01:56:23 Gross profit: Estimated cost to complete: Print 12/31/2020 12/31/2021 $200,000 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): Multiple Choice $36.000. O $69,000 $30,000. $33,000

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