Assuming bcc used the completed contract method to

Reference no: EM13577819

Summary data for Benedict Construction Co.'s (BCC) Job 1227, which was completed in 2013, are presented below:

Bid price			$450,000
Contract cost:		2012	(180,000)
		2013	(195,000)
Gross profit:			75,000

Estimated cost to complete:
12/31/2012	$200,000
12/31/2013	0

Assuming BCC used the completed contract method to recognize revenue, what would gross profit have been in 2012 and 2013 (rounded to the nearest thousand)?

	2012	2013
a.	$36,000	$39,000
b.	$30,000	$45,000
c.	$70,000	$5,000
d.	$0	$75,000

Reference no: EM13577819

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