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Pricewell (06/09) Construction contract

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Pricewell (06/09) Construction contract

  • This topic has 3 replies, 3 voices, and was last updated 8 years ago by MikeLittle.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • November 27, 2014 at 2:06 pm #213823
    nataly1986
    Participant
    • Topics: 21
    • Replies: 65
    • ☆☆

    Hi Mike,

    Can you please explain why we include cost of plant in total costs when we want to see if contract profitable or not. And then later in amounts due from customers calculation we take only material costs and depreciation on plant? Why we do not charge the customer cost of plant?

    November 27, 2014 at 4:07 pm #213870
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23316
    • ☆☆☆☆☆

    Customer IS charged with the cost of the plant – that cost would be in the negotiated contract value

    What are the overall costs of the contract? All the labour, all the material and the cost of the plant. That’s why we include the cost of the plant in our calculations when trying to establish whether a loss is forecast

    Ok?

    May 29, 2017 at 2:56 am #388667
    MEHRANKHAN
    Member
    • Topics: 1
    • Replies: 3
    • ☆

    Can you make double entry for that Sir i tried 4 hours cant make 🙁

    May 29, 2017 at 7:29 am #388686
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23316
    • ☆☆☆☆☆

    For which bit?

    Dr Contract No 7114 (Plant and Machinery) $8,000 (?)
    Cr Cash ($8,000)

    OK?

  • Author
    Posts
Viewing 4 posts - 1 through 4 (of 4 total)
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