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What is Certified Cost or Pricing Data subsequently found to have been inaccurate incomplete or non current known as?
Certified Cost or Pricing Data that is later found to be inaccurate, incomplete, or non-current is known as "defective pricing." This issue can lead to the government seeking adjustments to contract prices or even pursuing claims for overpayments made based on the flawed data. Contractors are typically required to provide accurate and up-to-date cost or pricing information to avoid such consequences.
What else can I help you with?
When an offeror is required to provide certified cost or pricing data should be used to verify that the overall price offered is fair and reasonable.?
price analysis
What do you mean by transfer pricing?
transfer pricing is in the case of transferred with in the organisation the pricing of contribution for assets ,
What is conversion cost pricing?
Pricing is based on direct labor and overhead. Materials does not affect pricing. Example: Your customer provides materials used in production.
Are variable selling expenses relevant?
Yes, variable selling expenses are relevant in decision-making processes, particularly in scenarios like pricing, product line evaluations, and cost analysis. Since these expenses fluctuate with sales volume, they directly impact profitability and should be considered when assessing the financial implications of different business choices. Ignoring them could lead to inaccurate assessments of overall costs and profitability.
What is contribution margin pricing?
Contribution margin pricing means to follow the contribution margin costing process to allocate price to units or production units.
What is certified cost or pricing data subsequently found to have been inaccurate incomplete or noncurrent known as?
Certified cost or pricing data subsequently found to be inaccurate, incomplete, or noncurrent is known as defective pricing. It refers to a situation where the data provided during the pricing process was misleading or incorrect. Defective pricing can lead to financial penalties and potential legal consequences for the party responsible for providing the inaccurate information.
When the Contracting Officer has relied on certified cost or pricing data in the price determination statements is true?
When a Contracting Officer relies on certified cost or pricing data for price determination, it signifies that the data provided by the contractor is accurate, complete, and current, which forms the basis for establishing fair and reasonable prices. If the data is later found to be inaccurate or incomplete, the government may have grounds for a price adjustment or even a claim for breach of contract. This reliance underscores the importance of transparency and accuracy in the contractor's submission of cost data. Ultimately, it helps ensure accountability in the procurement process.
What is one disadvantage of traditional cost assignment systems?
high-volume, relatively simple product will end up overcosted and subsidizing a subsequently undercosted, low-volume, relatively complex product, resulting in inaccurate unit costing and suboptimal product-line pricing decisions
What gives us the authority to request the submission of certified cost or pricing data on this modification?
52.215-11. Unless an exception applies, FAR 15.403-4 (a)(1)(iii) requires the submission of certified cost or pricing data for any modification expected to exceed the current threshold, regardless of whether or not certified cost or pricing data were initially required.
What clause in the FAR provides a remedy to the government in the event the contractor submits defective certified cost or pricing data on this modification?
FAR 15.408 (c) states, "The contracting officer shall, when contracting by negotiation, insert the clause at 52.215-11, Price Reduction for Defective Certified Cost or Pricing Data -- Modifications, in solicitations and contracts when it is contemplated that certified cost or pricing data will be required from the contractor or any subcontractor (see 15.403-4) for the pricing of contract modifications, and the clause prescribed in paragraph (b) of this section has not been included."
Which 10 USC is the statutory authority for requiring certified cost or pricing data?
10 U.S.C. 2306(a)
When the Contracting Officer has relied on certified cost or pricing data in the price determination which of the following statements is true?
price negotiation
When an offeror is required to provide certified cost or pricing data should be used to verify that the overall price offered is fair and reasonable.?
price analysis
What is good value pricing?
Value is a relative price point when compared versus premium (expensive) and economy (cheap), the key question to answer is "this is good value compared to what?", and subsequently "why is this better value?"
What is good-value pricing?
Value is a relative price point when compared versus premium (expensive) and economy (cheap), the key question to answer is "this is good value compared to what?", and subsequently "why is this better value?"
What situations are considered exempt from the submission of Certified Cost or Pricing Data?
sole source acquisition of $35 million FFP effort; price determined using cost analysis.
How much does certified nursing assistant classes cost on average?
You should be able to get into this program for less than $1000. I have found pricing anywhere from about $700 on up to over $1000.
