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) rev 10 16 2019 QC CS 186427 Multiple Choice $69,000 $36,000 $30,000 $33,000

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Question: 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

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):

rev: 10_16_2019_QC_CS-186427

Multiple Choice

$69,000.
$36,000.
$30,000.
$33,000.

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