Contract price ₹200 Lakh, Profit recognized up to 31st March, 2017 ₹4.5 Lakh and Cost of work certified during 2017-18 ₹72 Lakh. If Estimated Profit and Estimated Total Cost respectively are ₹25.2 Lakh and ₹172.8 Lakh, p
CS Executive · Cost and Management Accounting · PYQS · December 2018
Contract price ₹200 Lakh, Profit recognized up to 31st March, 2017 ₹4.5 Lakh and Cost of work certified during 2017-18 ₹72 Lakh. If Estimated Profit and Estimated Total Cost respectively are ₹25.2 Lakh and ₹172.8 Lakh, profit to be recognized as per AS-7 in 2017-18 will be:
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Contract Costing
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