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BMW agrees to sell Joe Customer a new BMW 650i for $85,000 on December 4, 2012 through one of its company- owned dealerships. The cost

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BMW agrees to sell Joe Customer a new BMW 650i for $85,000 on December 4, 2012 through one of its company- owned dealerships. The cost to BMW to produce the car is $60,000. Because of the highly specified nature of the options requested by this customer, BMW must build the car from scratch, a process that will take 8 weeks. BMW anticipates delivering the vehicle on February 1, 2013. 1. Under current GAAP, how much revenue should Construction Company, Boat Builder and BMW recognize in 2012 and 2013

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