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Sir please help me to solve below contract costing problem

Forums › CIMA Forums › Sir please help me to solve below contract costing problem

  • This topic has 0 replies, 1 voice, and was last updated 7 years ago by yuresh1996.
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  • October 28, 2017 at 1:30 am #413461
    yuresh1996
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    (d) Consider following information provided to you about a contract:

    Costs incurred to date 5,424
    Costs estimated to complete contract 1,356
    Value of work certified to date 6,035
    Total value of contract 7,100
    1. Calculate the total expected contract profit.

    2. Calculate the attributable profit using costs as a measure of completion.

    3. Calculate the attributable profit using sales value as a measure of completion.

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