Reference no: EM132665746
2014 2015 2016
Costs incurred P 1,750,000 P 6,440,000 P 1,085,000
- On July 1, 2014, OG obtained a contract to construct a building. The building was estimated to be built at a total cost of P 15,000,000 and is scheduled for completion on October 2016. The contract contains a penalty clause to the effect the other party was to deduct P 35,000 form the contract price for each week of delay. On the other hand, if the contractor was able finish the building earlier than agreed, it will be rewarded an amount equal to P 50,000 for every month of early completion. Furthermore, cost escalation clause was included in the contract. In 2015, the estimated costs of particular construction material amounting to P 520,000 were bought for P 780,000. The increase in the contract price related to this cost escalation was approved by the client. completion was delayed for 4 weeks.
The records show:
Estimated cost to complete 7,000,000 1,810,000 -
Progress billings 1,400,000 15,225,000 4,200,000
Question
Problem 1. What is the original contract price in 2014?
Problem 2. What is the original contract price in 2015?
Problem 3. What is the construction in progress, net as of 2015?
|
Organ leadership and decision making
: What other topics would you have liked to have covered in this course? How has this course changed your perspective or outlook moving forward?
|
|
Find cost of capital based on market values and book values
: Find the cost of capital based on market values and book values. 12% preference shares whose face value is sh.40 22,000,000.
|
|
Explain difference in clinical and statistical significance
: Not all EBP projects result in statistically significant results. Define clinical significance, and explain the difference between clinical and statistical.
|
|
Financial institution falls victim to security breach
: Every so often, a large company, a government organization, a news agency, or a financial institution falls victim to a security breach.
|
|
Find what is the construction in progress
: What is the construction in progress, net as of 2015? The building was estimated to be built at a total cost of P 15,000,000 and is scheduled for completion.
|
|
Explain the use as one or the other type of reasoning
: In a 2 to 3 page, double-spaced essay (12pt font), write a personal and reflective essay and write it as an example of your best writing. Grammar, spelling.
|
|
Writing about events in a novel or story
: Statement about readers or about the world. In general, your thesis is most effective as the last sentence of your introductory paragraph.
|
|
Find what is the contract price
: What is the percentage of completion during the year 2015? What is the contract price in 2016? What is the realized gross profit in 2015?
|
|
Describe the organization environment
: Describe the organization's environment, and evaluate its preparedness for virtualization. Explain Microsoft licensing for virtualized environments
|