By measuring the gross revenue Robertson would recognize in 2022, the amount is $5,600,000.
To understand better, we have to begin with the year 2021, where we have the following:
Given that the % of completion = cost incurred till now ÷ total estimated cost;
We have => $3,000,000 ÷ ($3,000,000 + $6,000,000) = 33.33%
Hence, we have the final revenue in the year 2021 to be recognized as
=> $12,000,000 × 33.33% = $4,000,000.
By the year 2022, we have the following percentage completion.
=> ($5,000,000 + $3,000,000) ÷ ($3,000,000 + $5,000,000 + $2,000,000) = 80 percent.
Therefore, we have the total revenue to be recognized
=> $1,200,000 × 80% = $9,600,000
Then given that the Revenue already realized in 2021 = $4,000,000
Therefore, the revenue to be recognized in 2022
=> $9,600,000 - $4,000,000 = $5,600,000.
Hence, in this case, it is concluded that the gross revenue Robertson would recognize in 2022, the amount is $5,600,000.
Learn more here: brainly.com/question/942181
