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Note 5 - Contracts in Progress | 12 Months Ended
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Nov. 30, 2018
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:
|  | Cost and Profit in |  |  | Billings in Excess of |
|  | Excess of Billings |  |  | Costs and Profit |
November 30, 2018 |  |  |  |  |  |  |  |
Costs |  | $ | 190,861 |  |  | $ | 99,782 |
Estimated earnings |  |  | 54,721 |  |  |  | 121,115 |
|  |  | 245,582 |  |  |  | 220,897 |
Less: amounts billed |  |  | (146,295 | ) |  |  | (405,911 | )
|  | $ | 99,287 |  |  | $ | (185,014 | )
November 30, 2017 |  |  |  |  |  |  |  |
Costs |  | $ | 105,639 |  |  | $ | 612,370 |
Estimated earnings |  |  | 34,611 |  |  |  | 173,764 |
|  |  | 140,250 |  |  |  | 786,134 |
Less: amounts billed |  |  | (75,104 | ) |  |  | (834,345 | )
|  | $ | 65,146 |  |  | $ | (48,211 | )
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 $8,405 and $37,052 as of November 30, 2018 and 2017, respectively.

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