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Question # 4 Determine over- and under-billings (i.e. Costs & Profits in Excess of Billings and/or Billings in Excess of Costs & Profits), and determine

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Question # 4 Determine over- and under-billings (i.e. Costs & Profits in Excess of Billings and/or Billings in Excess of Costs & Profits), and determine the percentage completion for a company with the following information: Job Number: CM-420 P1 Current Contract Amount: $23,530 Total Estimated Cost at Completion: $18,264 Actual Costs to Date: $17,538 Total Billed: $22,000 Job Number: CM-420 P2 Current Contract Amount: $35,824 Total Estimated Cost at Completion: $28,221 Actual Costs to Date: $22,345 Total Billed: $28,800 Job Number: CM-420 P3 Current Contract Amount: $18,854 Total Estimated Cost at Completion: $15,567 Actual Costs to Date: $4,762 Total Billed: $6,100 Job Number: CM-420 P4 Current Contract Amount: $5,213 Total Estimated Cost at Completion: $3,721 Actual Costs to Date: $1,956 Total Billed: $0

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