Examples of Contract Costs in a sentence
Final Construction Contract Costs (based on actuals), including utility costs, Consulting Fees, internal Project costs and overheads, and any associated costs identified in the additional comments of a project.
This results in the recognition of Contract Costs being capitalized under non-current assets on the statement of financial position.
Using the Loss Ratio Factor, (Contract Price divided by Total Estimated Contract Costs), the auditor should recommend that the ACO adjust the amount on Item 11 - Total Costs Eligible for Progress Payment to exclude the elements of loss from consideration for the instant and future progress payments.
When contract costs are questioned, the auditor shall prepare and send to the cognizant contracting officer NASA Form 456, Notice of Contract Costs Suspended and/or Disapproved.
Issuing DCAA Forms 1, Notice of Contract Costs Suspended and/or Disapproved, to deduct costs where allowability is questionable.