Answer the following questions using the information below:

A contractor prepares his accounts for the year ending $31$ st December each year. He commenced a contract on $1$ st

April $2020.$ The following information relates to the contract as on $31$ st Dec. $2020$:

Material issued $251,000,$ Wages $565,600,$ and Salary to Foreman $81,300$

A machine costing $$260,000$ has been on the site for $146$ days. Its working life is estimated at seven years, and

its final scrap value at $$15,000.$

A supervisor, who is paid $$8,000$ p$.$m$.$ has devoted one$-$half of his time to this contract.

All other expenses and administration charge amount to $$136,500.$ The material in hand on$-$site costs $$35,400$

on $31$ st Dec. $2020.$

The contract price is $$2,000,000.$ On ${31}^{st}$ Dec. $2020,$ two$-$thirds of the contract was completed.

The architect issued certificates covering $50\%$ of the contract price, and the contractor had been paid $$750,000$

on the account.

Contract Account will be credited to Machine less depreciation with an amount of

a$)$ $$260,000$

b$)$ $$245,000$

c$)$ $$246,000$

d$)$ $$225,000$

Contract Account will be debited to the supervisor's salary with an amount of

a$)$ $$8,000$

b$)$ $$84,000$

c$)$ $$72,000$

d$)$ $$36,000$

What is the Cost of Work to Date?

a$)$ $$1,049,000$

b$)$ $$1,262,250$

c$)$ $$262,250$

d$)$ $$786,750$

What is the cost of uncertified work

a$)$ $$1,049,000$

b$)$ $$1,262,250$

c$)$ $$262,250$

d$)$ $$786,750$

What is the Notional profit of the contract to date?

a$)$ $$213,250$

b$)$ $$786,750$

c$)$ $$262,250$

d$)$ $$106,625$

What is the Profit to be taken to the Profit & Loss Account?

a$)$ $$213,250$

b$)$ $$786,750$

c$)$ $$262,250$

d$)$ $$106,625$

is the excess of the contract price over the estimated total cost of the contract.

a$)$ Work Certified

b$)$ Cost of Work Uncertified

c$)$ Estimated Profit

d$)$ Notional Profit

$10.----$ represents the difference between the value of work certified and the cost of work certified. It is determined.

a$)$ Work Certified

b$)$ Cost of Work Uncertified

c$)$ Estimated Profit

d$)$ Notional Profit