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What is Cost plus variable fee?
It is a type of contract, mostly for construction, whereas the fee over cost payable to the contractor varies depending, most usually, on the trade i.e. item of the works.
Is shiping cost a fixed cost?
The simple rule is that if every order requires shipping fee then it is variable cost because as many as the number of orders variable cost will vary as well, but if total shipping cost remain as fixed amount no matter how many orders are shipped the shipping cost is classified as fixed cost.
Are General Expenses a fixed Cost?
Some general expenses are fixed, meaning that they are the same amount every month, but many are not. When the expense depends on usage, such as electricity, it will not be fixed, but will vary from month to month. An example of a fixed general expense would be a monthly retainer or fee paid to an accountant or lawyer. If the expense is the same amount every month, it is called a fixed cost.
Is professional charges a fixed cost expense?
The only time professional charges would be a fixed cost expense is when you pay exactly the same charge every reporting period (monthly, quarterly, or yearly). If the professional charge changes depending of the amount of work done or time spent, then it is not fixed. Sometimes lawyers or accountants will work for a fixed fee that doesn't change over a period of time. Then it is a fixed cost expense.
Is legal fee a fix cost or variable cost?
variable cost
What contract type cannot be used when purchasing a commercial item or service?
Cost plus fixed fee
Cost Plus Award Fee contract?
bush baby
What fee be charged for Cost Plus Fee contract?
The goods mentioned in the contract / the relevant expenses such as shipping/ insurance/ custums tarrif fees/ loading and unloading
What is Cost plus variable fee?
It is a type of contract, mostly for construction, whereas the fee over cost payable to the contractor varies depending, most usually, on the trade i.e. item of the works.
Describe the contract type of Cost Plus Incentive Fee (CPIF)?
A Cost Plus Incentive Fee (CPIF) contract is a type of cost-reimbursement contract where the contractor is reimbursed for allowable costs incurred during the project, along with an additional fee that is based on the contractor's performance. The incentive fee is typically structured to encourage cost savings and efficiency, meaning the contractor may receive a higher fee if they complete the project under budget or meet specific performance targets. This contract type aligns the interests of both the contractor and the client, promoting collaboration while controlling costs. However, it also requires careful monitoring to prevent cost overruns.
Which is the least preferred contract type because it places the greatest risk on the government?
T&M Time and Material (T&M ) contracts are used for acquiring supplies or services on the basis of direct labor hours at specified fixed hourly rates that include wages, overhead, general and administrative expenses, and profit; and materials at cost. They may be used only when it is not possible at the time of placing the contract to estimate accurately the ex tent or duration of the work or to anticipate costs with any reasonable degree of confidence. Because it places the most risk on the Government, T&M is the least preferred contract type.
How much did he first desktop computer cost?
The first computers had no fixed selling price. They were usually built on cost plus fixed fee contracts, because the people making them could not guess at final cost to build them. For example the ENIAC was estimated at $50,000 when the Army signed the cost plus contract. The Army eventually payed a bit more than $500,000. The UNIVAC I original fixed price contracts were for $250,000 but when the machine went into production its actual price was $2,500,000. Remington Rand lost lots of money on the first two UNIVAC's sold as the company had to pay the difference between cost to build and what the customer payed!
Is winning a bid at an auction a contract?
Yes, it is a contract. You agree to pay the price, plus the additional buyers fee when you bid.
What is the least preferred contract type because it places the greatest risk on the Government?
The least preferred contract type for the Government is the cost-plus contract. This type of contract places the greatest risk on the Government because it reimburses the contractor for their allowable costs plus an additional fee, which can lead to unpredictable expenses and less incentive for cost control. Consequently, it can result in higher overall costs and diminished accountability for the contractor in managing project expenses.
Is shiping cost a fixed cost?
The simple rule is that if every order requires shipping fee then it is variable cost because as many as the number of orders variable cost will vary as well, but if total shipping cost remain as fixed amount no matter how many orders are shipped the shipping cost is classified as fixed cost.
What is the price of a latitude ticket?
cost £60 plus booking fee
What does a passport cost?
Passport (only) fee of either $110 (adult) plus a $25 execution fee, or $80 (younger than 16 years old) plus a $25 execution fee.
