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To charge indirect costs to federal grants, organizations must first establish a federally approved indirect cost rate through a negotiated agreement with a federal agency. This rate is then applied to the modified total direct costs (MTDC) of the grant to calculate the allowable indirect costs. It's important to ensure compliance with the Uniform Guidance (2 CFR Part 200), which outlines the principles for determining costs applicable to federal awards. Proper documentation and justification of indirect costs are essential for transparency and audit purposes.
What else can I help you with?
What is a federal telephone charge?
If you look on your telephone bill, you will possibly see things like Federal Line Cost Charge, Federal Access Charge, or Federal Subscriber Line Charge. They are charges you pay for having a telephone that are accessed by the US government.
What two cost elements are required to calculate an indirect cost rate?
Indirect cost rate is equal to Indirect Cost Pool divided by Indirect Cost Allocation Base.
what is the cost of MagnatoneHearing Aid?
No, there have been no federal grants to churches to help with rental assistance as part of the stimulus package.
What two costs elements are required to calculate an indirect cost rate?
Indirect cost rate is equal to Indirect Cost Pool divided by Indirect Cost Allocation Base.
Is indirect labor a variable cost?
If indirect labor change with the change of units of product then indirect labor is a variable cost. If change in the quantity of units has no impact on indirect labor cost then it is a fixed cost.
Is indirect labor a part of prime cost?
Direct material and direct labor are the parts of prime cost while indirect labor is part of manufacturing overhead and manufacturing overhead is a part of conversion cost that's why indirect labor is not part of prime cost because it is that type of labor which is not directly identifiable with units production that;s why cannot charge directly to production units.
Is research development cost direct or indirect cost?
Research and development cost is indirect cost as this cost is not directly required to manufacturing the production units and that’s why always an indirect cost.
Is advertising expense direct or indirect cost?
indirect
Are indirect materials variable or fixed cost?
Indirect
Is indirect cost a prime cost?
No
Can cost function measure direct cost as well as indirect cost?
yes cost function measures the direct costs along with indirect cost.
What are the differences between direct cost and indirect cost in management accounting.?
what are the differences between direct cost and indirect cost in financial accounting
