Management Accounting By Paresh Shah Oxford University Press Chapter No.

9 Chapter Name Contract Costing

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quired level of skill and competency.

Statement Showing the Estimated Profit to Date and on Completion of Contract No -----Cost Elements Fabrication Costs: Direct Materials Direct labour Overheads Fabrication Cost Erection Costs Total Estimated Profit % Completion 1 1 1 1 1 -1 Cost to date 1 % Balance 99 99 99 99 Further Cost 99 0 0 99 0 99 -99

Contract Price Total Cost 100 0 0 100 0 100 -100