Tyro Construction Company has two projects, for which it reported, as of December 31, 20x5, thefollowing information: In thousand: Project A Project B Contract price 4,800 860 20x4: Costs incurred...

Tyro Construction Company has two projects, for which it reported, as of December 31, 20x5, thefollowing information:

In thousand: Project A Project B

Contract price 4,800 860

20x4: Costs incurred 3,400

Percent completed 75%

20x5: Costs incurred 1,250 140

Percent completed 25% 15%

Using the percentage-of-completion (overtime) method of revenue recognition, gross profit on Project Ato be recognized in 20x4 would be:

Jun 11, 2022

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