Difference between direct and indirect cost
[DOC File]CHAPTER 1
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This allowance for indirect costs are a portion of any grant awarded, not in addition to the grant award. It is important to know the difference between administrative type costs and indirect costs before completing the Indirect Cost Questionnaire Form.
[DOC File]Chapter 2--Cost Terminology and Cost Behaviors
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The total cost comprises of direct costs (also known as prime cost) and indirect costs (known as overheads). The prime cost consists of direct materials, direct labour and other direct expenses.
[DOC File]Regulatory/Statutory - HUD
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A direct cost is one that is physically and conveniently traceable to a cost object. Direct material and direct labor are direct costs. An indirect cost is one that cannot be conveniently traced to a cost …
[DOC File]OAS - Organization of American States: Democracy for peace ...
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After direct costs have been determined and assigned directly to Federal awards and other activities, as appropriate, indirect costs are those remaining to be allocated to benefited cost objectives. The cost and other data used to distribute the costs should be supported by formal accounting and other records that support the propriety of the costs assigned to federal awards.
[DOC File]The key points to study for Test 1 are:
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** FY 2008 SWCAP 18,240 ** FY 2008 Indirect Cost Pool $2,452,137 FY 2008 Direct Cost Base (proposed) $41,765,945 ** 1/ FY 2008 Indirect Cost Rate 5.87% * Please provide detail support for actual indirect and actual direct base costs reconcilable to financial statements that meet the requirements of the Single Audit Act of 1984, Public Law 98-502.
Difference Between Direct and Indirect Costs | Compare the Differe…
Generally speaking, a direct cost is one that is incurred specifically for one activity. Indirect costs are more general in nature and are incurred for the benefit of several activities. Once a grantee makes an election and treats a given cost as direct or indirect, it must apply that treatment consistently and may not change during the fiscal year.
COST ACCOUNTING - ResearchGate
All cost concepts introduced in this chapter will be revisited in later chapters of the text. Learning Objectives. After studying Chapter 2, your students should be able to: Distinguish among service, merchandising, and manufacturing companies. Describe the value chain and its elements. Distinguish between direct and indirect costs.
[DOCX File]Indirect_Cost_Instructions_and_Questionnaire
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Know the difference between. Direct and indirect labor. Direct and indirect material. Prime cost = DM + DL. COGS for manufacturing and Purchases for Merchandising operations. Know what goes into Overhead. The two methods for costing data collection; Job Order or Process. The two methods for applying costs; Actual or Standards
[DOC File]What is an indirect cost
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Difference between a direct and an indirect cost. ANNEX C. In-kind contributions. ANNEX D. ICR calculation. ANNEX E. ICR and interest accreditation. ANNEX F. Summarized ICR cycle Definitions. Award: An award is used to identify a grant, contract, or other agreement derived from a donor in the Oracle Grants Accounting environment. Contribution
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