Creating a report for Custom Field

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Dear All,

I am looking for detailed information, if anyone can share, i have a requirement which goes like this:

Similar to Status Field in incident Workspace  ( E.g incident status etc) there is one custom field which is created lets call it Contractual status (having values such as A, B, C, D), Now we need to have a report which will tell, that a particular incident is at :

Contractual status(A) for 20 min

Contractual status (B) for 10 min

Contractual status (c) for 60 min

 

Contractual status (d) for 60 min

 

Request you to please help me by sharing some information on  how to proceed with this requirement.