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Contracts In Process
 9 Months Ended
Dec. 31, 2015
Contracts In Process [Abstract]  
Contracts In Process

(3)   Contracts in Process

 

At December 31, 2015 and March 31, 2015, the estimated period to complete contracts in process ranged from one to four months and one to thirteen months, respectively.  We expect to collect all accounts receivable arising from these contracts within sixty days of billing.

 

The following summarizes contracts in process:

 

 

 

 

 

 

 

 

 

 

    

December 31, 2015

    

March 31, 2015

 

Costs incurred on uncompleted contracts

 

$
2,680,203

 

$
2,327,816

 

Estimated earnings

 

 
724,839

 

 
626,075

 

 

 

 
3,405,042

 

 
2,953,891

 

Less billings to date

 

 
(3,435,391)

 

 
(2,988,418)

 

 

 

 

 

 

 

 

 

Contracts in process

 

$
(30,349)

 

$
(34,527)

 

 

 

 

 

 

 

 

 

Included in the accompanying consolidated condensed balance sheets as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Costs and estimated earnings in excess of billings on uncompleted contracts

 

$
29,917

 

$
49,917

 

Billings in excess of costs and estimated earnings on uncompleted contracts

 

 
(60,266)

 

 
(84,444)

 

Contracts in process

 

$
(30,349)

 

$
(34,527)