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): A.) 33,000 B.) 36,000 C.) 69,000 D.) 30,000

### Answers

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

there's 11 people for the 1st position. then, no matter who gets it, there's only 10 left for the second, and then 9 left for the third. 11 x 10 x 9 = 990. the answer is there are 990 different ways the positions can be filled by these applicants