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DeKalb County Department of Purchasing and Contracting May 13, 2019REQUEST FOR PROPOSALS (RFP) NO. 19500520 FOR DEVELOPMENT OF COST ALLOCATION PLANS Senior Procurement Agent: Phone: Email:Brenda H.

How to fill out development of cost allocation

How to fill out development of cost allocation

1. To fill out the development of cost allocation, follow these steps:
2. Gather all relevant financial data, such as expenses and revenues, associated with the project or department for which the cost allocation is being developed.
3. Identify the cost pools or categories to which the expenses can be allocated. Cost pools can include direct costs, indirect costs, overhead costs, etc.
4. Determine the cost allocation base for each cost pool. This could be factors such as labor hours, machine hours, square footage, or any other appropriate measure.
5. Calculate the allocation rate for each cost pool by dividing the total cost pool by the total allocation base.
6. Allocate the costs to individual cost objects or activities based on their usage of the allocation base. This may involve multiplying the allocation rate by the usage of the allocation base for each cost object.
7. Review and verify the accuracy of the allocated costs and make any necessary adjustments.
8. Prepare a report or documentation summarizing the cost allocation process, including the allocated costs for each cost object or activity.
9. Communicate the cost allocation results to relevant stakeholders and use the information for decision-making or reporting purposes.

Who needs development of cost allocation?

1. Development of cost allocation is needed by organizations or departments that want to accurately determine the costs associated with specific projects, departments, products, or activities.
2. Common users of cost allocation include:
3. - Project managers who need to track and allocate project expenses
4. - Accountants or financial analysts who require accurate cost data for financial reporting or analysis
5. - Managers or executives who make strategic decisions based on cost information
6. - Government agencies or regulatory bodies that require cost allocation reports for compliance purposes
7. - Cost accountants who specialize in analyzing and managing costs within an organization

For pdfFiller’s FAQs

What is development of cost allocation?

Development of cost allocation is the process of distributing costs among different cost objects or departments within an organization.

Who is required to file development of cost allocation?

All businesses or organizations that need to accurately track and allocate costs are required to file development of cost allocation.

How to fill out development of cost allocation?

To fill out development of cost allocation, businesses need to identify all costs incurred, determine the appropriate allocation bases, and allocate costs accordingly.

What is the purpose of development of cost allocation?

The purpose of development of cost allocation is to help businesses accurately track and allocate costs to different cost objects or departments for better decision-making and financial reporting.

What information must be reported on development of cost allocation?

The report must include details of all costs incurred, the allocation bases used, and how costs were allocated among different cost objects or departments.

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