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Scorpion4ik [409]
3 years ago
7

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

Business
1 answer:
Elza [17]3 years ago
8 0

Answer:

A.) 33,000

Explanation:

The computation of the gross profit is as follows;

But before that following calculations need to be done

Percentage of completion = Cost incurred in 2020 ÷ Total cost

where,

Total cost = Cost incurred + estimated cost

= $180,000 + $200,000

= $380,000

Now

Percentage of completion is

= $180,000 ÷ $380,000

= 47.368%

Now  

Revenue to be recognized in year 2020 is

= contract revenue × percentage of completion

= $450,000 × 47.368%

= $213,156

So,

Gross profit = Revenue - Cost

= $213,156 - $180,000

= $33,156

= $33,000

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1 year ago
Julia, an economics professor, is giving a presentation on her research. What presentation delivery method should Julia use if s
Alex
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6 0
3 years ago
D) Identify and explain two reasons why accurate market research<br> information should be accurate
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Answer:

When businesses are deciding how to develop their products and services, they undertake market research. Market research can either be done by the company itself or taken from elsewhere. Having reliable market research data is essential. Basing decisions on unreliable research can be very costly to a business. For research to be reliable, it must have a high level of validity. This means that the facts and evidence gathered are accurate.

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2 years ago
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Unfortunate Accident

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