ions Petroleum hires a drilling contractor to drill a well. The contract ecifed that the well was to be drilled to a depth of 10,000 feet at a cost of The $400,000 cost includes $50,000 for surface casing. Any drilling mpleted after reaching the 10,000-foot depth is to be paid at a day rate of to be co o be 000 per day. The 10,000-foot depth is reached on September 14, 2017, and the s3, onal drilling to 12,000 feet is completed on October 27, 2017. ons incurred additional costs as shown on the attached schedule. additi REQUIRED: Complete th Description e schedule showing whether the cost is IDC or L& WE Amount $ IDC L&WE 1. Rig drilling -turnkey contract . 2. Rig drilling-day rate 8,000 7,500 22,400 1,200 13,000 6,300 40,000 .. 35,000 11,000 5,500 11,500 5,000 7,000 48,000 4,800 30,000 20,000 500 3,000 10,000 7. Bits 9. Mud (after 8,000 ft.) 12. Casing crews 14. Flow lines and connections.. 19. Christmas tree. *To be determined from the information given in the problem statement