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In 2017, Dygress Construction Co

Question 59

Multiple Choice

In 2017, Dygress Construction Co. began work on a contract for $16,500,000; it was completed in 2018. The following cost data pertain to this contract: In 2017, Dygress Construction Co. began work on a contract for $16,500,000; it was completed in 2018. The following cost data pertain to this contract: Assuming the performance obligation is satisfied over time, what is the amount of gross profit to be recognized on the income statement for the year ended December 31, 2018? A) $2,400,000 B) $2,695,000 C) $4,050,000 D) $6,450,000 Assuming the performance obligation is satisfied over time, what is the amount of gross profit to be recognized on the income statement for the year ended December 31, 2018?


A) $2,400,000
B) $2,695,000
C) $4,050,000
D) $6,450,000

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