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Note 5 - Contracts in Progress | 12 Months Ended
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Nov. 30, 2016
Notes to Financial Statements |
Long-term Contracts or Programs Disclosure [Text Block] |
(5) | 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 $0 and $27,951 as of November 30, 2016 and 2015, respectively.
|  | Cost and Profit in |  |  | Billings in Excess of |
|  | Excess of Billings |  |  | Costs and Profit |
November 30, 2016 |  |  |  |  |  |  |  |
Costs |  | $ | 121,118 |  |  | $ | 159,717 |
Estimated earnings |  |  | 27,231 |  |  |  | 65,471 |
|  |  | 148,349 |  |  |  | 225,188 |
Less: amounts billed |  |  | (40,000 | ) |  |  | (229,485 | )
|  | $ | 108,349 |  |  | $ | (4,297 | )
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 | )

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