25 October 2013
pls let me know the contrac costing formulas for work.completed and percentage. and for estimated contrac also and the payment made accordingly to contractor
(a)estimated profit*work certified/contract price (b) estimated profit*work certified/contract price*cash received/work certified (C) estimated profit *cash received /work certified* cost of contract to date/total estimated cost
Further, Notional profit=value of work certified+ cost of work uncertified-cost of contract to date Estimated profit=total contract price- total estimated cost Total estimated cost=cost of contract to date + estimated additional cost+ provision for contingencies
% of work certified= value of work certified/total contract price*100
CAclubindia
