Costs and Estimated Earnings in Excess of Billings

12 Months Ended

Sep. 30, 2020

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Costs and Estimated Earnings in Excess of Billings

NOTE 3 - COSTS AND ESTIMATED EARNINGS IN EXCESS OF BILLINGS

Costs and estimated earnings in excess of billings on uncompleted contracts as of September 30, 2020 and 2019 consisted of the following:

	September 30,
	2020		2019
Costs incurred on uncompleted contracts	$	10,390,000	$	18,707,000
Estimated earnings		4,680,000		9,063,000
		15,070,000		27,770,000
Billings to date		8,665,000		13,932,000
Costs and estimated earnings in excess of billings	$	6,405,000	$	13,838,000