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Note 4 - Contracts in Progress | 12 Months Ended
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Nov. 30, 2015
Notes to Financial Statements |
Long-term Contracts or Programs Disclosure [Text Block] |
(4) | Contracts in Progress
Amounts included in the consolidated financial statements related to uncompleted contracts are as follows: The amounts billed on these long term contracts are due 30 days from invoice date. All amounts billed are expected to be collected within the next 12 months. Retainage was $27,951 and $8,048 as of November 30, 2015 and 2014, respectively.
|  | Cost and Profit in |  |  | Billings in Excess of |
|  | Excess of Billings |  |  | Costs and Profit |
November 30, 2015 |  |  |  |  |  |  |  |
Costs |  | $ | 233,544 |  |  | $ | 695,915 |
Estimated earnings |  |  | 75,822 |  |  |  | 227,442 |
|  |  | 309,366 |  |  |  | 923,357 |
Less: amounts billed |  |  | (102,694 | ) |  |  | (1,010,215 | )
|  | $ | 206,672 |  |  | $ | (86,858 | )
November 30, 2014 |  |  |  |  |  |  |  |
Costs |  | $ | 14,724 |  |  | $ | 623,670 |
Estimated earnings |  |  | 4,819 |  |  |  | 204,114 |
|  |  | 19,543 |  |  |  | 827,784 |
Less: amounts billed |  |  | (2,000 | ) |  |  | (924,166 | )
|  | $ | 17,543 |  |  | $ | (96,382 | )

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