Contract costing

DONATIONS ARE NOT PART OF CONTRACT A/c.WILL GO TO P/L A/C..

LAND WILL BE SHOWN IN B/S.

COST OF WORK UNCERTIFIED WILL BE CALCULATED AS PER THE INFORMATION OF THE QUESTION

If the question is silent about work uncertified, how to calculate?

Notional profit cannot be calculated without knowing work uncertified.

THEN YOU HAVE TO FIND % OF MATERIAL,LABOUR AND OVERHEAD PORTION RELATED TO COST OF WIP

WRITE THE INFO OF QUESTION PROPERLY

OK, they have given contact price, work certified and costs till date. While preparing the contact account I debited the relevant expenses and on the credit side work certified and materials closing stock. Can't find the work uncertified. They have also given that 50% of the completed work will be certified and 2/3 rd of the contact price has been completed.

YOU R SAYING 50% OF THE COMPLETED WORK WILL BE CERTIFIED THATS MEANS THIS PORTION IS UN-CERTIFIED

DID YOU WRITE 2/3 OF CONTRACT PRICE AS VALUE OF WORK CERTIFIED
 

No, the question is the value of work uncertified should not include profit. I wrote 2/3*contact price*50% as work certified. But cannot find the cost portion of the work uncertified.