AB Contractors for the year ended 31. December 19x1: Material issued: 100000 ...

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Accounting

AB Contractors for the year ended 31. December 19x1:
Material issued: 100000
Material on hand 31.12.19x1: 50000
Wages payable: 50000
Wages prepaid: 30000
Machinery issued to contract: 60000
Value of machinery 31.12.19x1: 55000
Direct overheads: 20000
Head office overheads: 20000
Subcontractors fees: 8000
Tender price: 540000
Total expected costs: 300000
Work certified: 150000
Payment received from client: 130000
Determine the costs to date as a percentage

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