Compute a conservative estimate of profit on a contract [80% complete] from the following particulars. Illustrate at least four methods of computing the profit.
|
Particulars |
Amount [Rs.] |
|
Total expenditure to date |
1, 02,000 |
|
Estimated further expenditure to complete the contract |
20, 400 |
|
[including contingencies] |
|
|
Contract price |
1, 83,600 |
|
Work certified |
1, 20,000 |
|
Work uncertified |
10, 200 |
|
Cash received |
97, 920 |