WebFeb 24, 2010 · FAR describes other direct costs as costs not previously identified as a direct material cost, direct labor cost, or indirect cost. In other words, an other direct cost is a cost that can be identified specifically with a final cost objective that the offeror does not treat as a direct material cost or a direct labor cost. WebThe "probable cost" should reflect the Government's best estimate of the cost of a contract that is likely to result from the offeror's proposal. ... FAR Parts. 61 terms. KillerKilleen. Con 100. 44 terms. SIMONEDTAYLOR1. Con 121 Exam 2. 39 terms. dana_cauble. Other sets by this creator. JayReview. 58 terms. amandawsdk. ThursdayQuiz.
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WebCost objective means a program, function, activity, award, organizational subdivision, contract, or work unit for which cost data are desired and for which provision is made to accumulate and measure the cost of processes, products, jobs, capital projects, etc. WebMar 6, 2024 · objectives. Briefly stated, the standard requires that allocation of insurance costs to cost objectives shall be based on the beneficial or causal relationship between … highlight definition computer
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WebFAR Subsection 31.201-2 specifies a cost is allowable only if it complies with five requirements: reasonableness, allocability, cost accounting standards if applicable … WebHow Does the FAR Define Bid and Proposal Costs. First, let us start with the definition of B&P. FAR 31.205-18 (a) states: “Bid and proposal (B&P) costs means the costs … WebMar 22, 2024 · The contract type risk factor focuses on the degree of cost risk accepted by the contractor under varying contract types. The working capital adjustment is an adjustment added to the profit objective for contract type risk. ... 100 percent minus the customary progress payment rate (see FAR 32.501). For example, if a contractor receives progress ... highlight definition in art