Note 5 - Contracts in Progress

12 Months Ended

Nov. 30, 2023

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, 2023
Costs	$	839,161		$	3,228,941
Estimated earnings		299,230			1,421,112
		1,138,391			4,650,053
Less: amounts billed		(849,109	)		(5,001,342	)
	$	289,282		$	(351,289	)
November 30, 2022
Costs	$	848,516		$	731,490
Estimated earnings		293,094			138,568
		1,141,610			870,058
Less: amounts billed		(690,704	)		(1,198,099	)
	$	450,906		$	(328,041	)

The amounts billed on long-term contracts are due 30 days from invoice date. All amounts billed are expected to be collected within the next 12 months. Retainage included in accounts receivable was $28,082 and $4,087 as of November 30, 2023 and 2022, respectively.