LTCC FORMULA AND NOTES Flashcards
1
Q
Total Estimated Cost
A
Cost incurred to date
+ Estimated cost to complete
_______________________
Total Estimated Cost
2
Q
POC%
A
Cost Incurred * Construction In Progress
___________________ or ______________________
Total Estimated Cost Contract Price
- use only if there is profit cant use if lost
3
Q
Revenue
A
POC% x CP
4
Q
Estimated Gross Profit
A
(POC% x CP) - Cost Incurred
5
Q
cumulative Realized Gross Profit
A
CP - Total Estimated Cost
6
Q
NOTES
A
Cumulative RGP if first year yun na yon agad. pero pag second year always deduct first yr. kung loss ang last yr magiging negative negative then positive lol algebra
7
Q
CIP
A
Cost Incurred
\+
_ G/L
\_\_\_\_\_\_\_\_\_\_\_\_\_\_
CIP
8
Q
EXPENSED OUTRIGHT
A
CP < Total Cost
