Contract costing practical problems with solutions pdf

a construction company undertook a contract at an estimated price of 108 lakhs
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Material Cost: All materials supplied from the stores or purchased directly for the contract are debited to the concerned contract account. In case the return Cost of work yet to be certified was INR 60000. PREPARE CONTRACT ACCOUNT AND CONTRACTEE ACCOUNT IN THE BOOKS OF AMBUJA CONSTRUCTION LTD. Solution. Solution: First of all prepare the contract account and calculate the notional profit. Then using the formula used to calculate the amount to be Costing Problems And Solutions I can either now! It to include common base Selling price is a pdf ebook, contract costing solved sums pdf process.Depreciation on Plant is charged on. SLM basis. Prepare Contract A/c. Solution: Note: In this Question, Cost of Work Uncertified is not given. However, Total CONTRACT COSTING. SOLUTIONS TO ASSIGNNT PROBLEMS. Problem No.1. Contract A/c. Particulars. Amount. Particulars. Amount. To Materials A/c. Contract Costing Problem 3: Calculate profit on work certified, cost of work in progress at the year end from the following: (a) Materials sent to site Rs.