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Beavis Construction Company was the low bidder on a construction project to build an earthen dam for $1,800, 000. The project was begun in 2012

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Beavis Construction Company was the low bidder on a construction project to build an earthen dam for $1,800, 000. The project was begun in 2012 and completed in 2013. Cost and other data are presented below: Assume that Beavis uses the percentage-of-completion method for revenue recognition. Required: Compute the amount of gross profit recognized during 2012 and 2013

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