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Compute a conservative estimate of profit on a contract (which is 80% complete) from the following particulars. Illustrate at least

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Compute a conservative estimate of profit on a contract (which is 80% complete) from the following particulars. Illustrate at least four methods of computing the profit:

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(i) Total expenditure to date (ii) Estimated further expenditure to complete the contract (including contingencies) (iii) Contract price (iv) Work certified (v) Work uncertified (vi) Cash received Rs. 1,02,000 20,400 1,83,600 1,20,000 10,200 97,920

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To compute a conservative estimate of profit on a contract that is 80 complete you can use various methods Here are four methods of computing the prof…View the full answer


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Cost Accounting

Cost Accounting

ISBN: 9780070221628

4th Edition

Authors: Jawahar Lal, Seema Srivastava

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Question Details
Chapter # 10- Job-Order Costing: Cost Flows and External Reporting
Section: Problem
Problem: 9
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Question Posted: September 05, 2023 06:19:11
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