Summary data for Benedict Construction Co.'s (BCC) Job 1227, which was completed in 2017, are presented below:
Bid Price: $450,000
Contract cost: 2016 -180,000
2017 -195,000
Gross Profit: 75,000
Estimated Cost to Complete:
12/31/2016 $200,000
12/31/2017 0
1. Assuming BCC uses the percentage-of-completion method of revenue recognition, the gross profit recognized in 2016 would be (rounded to the nearest thousand):
2. Assuming BCC uses the percentage-of-completion method of recognition the gross profit recognized in 2017 would be (rounded to the nearest thousand):
3. Assuming BCC used the completed contract method to recognize revenue, what would gross profit have been in 2016 and 2017 (rounded to the nearest thousand)?
2016 2017
a. $36,000 $39,000
b. $30,000 $45,000
c. $70,000 $5,000
d. $ 0 $75,000
4. Assuming BCC used the cost recovery method to recognize revenue under IFRS, what would gross profit have been in 2016 and 2017 (rounded to the nearest thousand)?

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With q7 assume the sweet company uses a plantwide predetermined overhead rate with machine-hours as the allocation base.and for q 10,11,13,and 14,assume that the company use department predetermined overhead rates with machine-hours as the allocation bade in both departements.7. assume that sweeten company used cost-plus pricing (and a markup percentage of 80% of total manufacturing cost) to establish selling prices for all of its jobs. what selling price would the company have established for jobs p and q? what are the selling prices for both jobs when stated on a per unit basis assuming 20 units were produced for job p and 30 units were produced for job q? (do not round intermediate calculations. round your final answers to nearest whole dollar.)total price for the job for job p -job q selling price per unit for job p q . how much manufacturing overhead was applied from the molding department to job p and how much was applied to job q? (do not round intermediate calculations.) job p job q manufacturing overhead applied for job p for job q . how much manufacturing overhead was applied from the fabrication department to job p and how much was applied to job q? (do not round intermediate calculations.)job p job q manufacturing overhead applied for job p for job q . if job q included 30 units, what was its unit product cost? (do not round intermediate calculations. round your final answer to nearest whole dollar.)14. assume that sweeten company used cost-plus pricing (and a markup percentage of 80% of total manufacturing cost) to establish selling prices for all of its jobs. what selling price would the company have established for jobs p and q? what are the selling prices for both jobs when stated on a per unit basis assuming 20 units were produced for job p and 30 units were produced for job q? (do not round intermediate calculations. round your final answer to nearest whole dollar.)total price for the job p for job q selling price per unit for job p for job q

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