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Beavis Construction Company was the low bidder on a construction project to build an earthen dam for SUNODO0. The project was begun in 2020 and

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Beavis Construction Company was the low bidder on a construction project to build an earthen dam for SUNODO0. The project was begun in 2020 and completed in 2021 Cost and other data are presented below Coate reddering the year ER DU Stig during the year Cear collection during the 5,666 305.000 1.665,000 1.505.000 Det Assume that Beavis recognizes revenue on this contract over time according to percentage of completion Required: Compute the amount of gross profit recognized during 2020 and 2021 Amount of gross prot recognized in 2020 Amount of gross profit recognized in 2021 Beavis Construction Company was the low bidder on a construction project to build an earthen dam for SUNODO0. The project was begun in 2020 and completed in 2021 Cost and other data are presented below Coate reddering the year ER DU Stig during the year Cear collection during the 5,666 305.000 1.665,000 1.505.000 Det Assume that Beavis recognizes revenue on this contract over time according to percentage of completion Required: Compute the amount of gross profit recognized during 2020 and 2021 Amount of gross prot recognized in 2020 Amount of gross profit recognized in 2021

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