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011923 GRANT CONTRACT (cost reimbursement grant contract with an individual, business, nonprofit, or governmental entity of another state or country) Begin Attend Date July 17, 2023Agency Tracking

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How to fill out calculating indirect rates for

01

Gather all necessary financial information such as total direct costs, total indirect costs, and total labor hours.

02

Determine the appropriate calculation method for your indirect rates (i.e. single rate or dual rate).

03

Allocate indirect costs to cost pools based on predetermined allocation bases.

04

Calculate the indirect rate for each cost pool by dividing the total indirect costs by the total allocation base for that pool.

05

Apply the indirect rates to direct costs to determine the total indirect costs to be allocated to each cost object (i.e. project, product, or department).

Who needs calculating indirect rates for?

01

Government contractors who need to comply with Federal Acquisition Regulation (FAR) requirements for cost accounting standards and audits.

02

Non-profit organizations that need to accurately allocate indirect costs for grant reporting purposes.

03

Manufacturing companies that need to determine the true cost of production including both direct and indirect costs.

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What is calculating indirect rates for?

Calculating indirect rates is used to determine the allocation of indirect costs to different projects or activities.

Who is required to file calculating indirect rates for?

Organizations or businesses that have government contracts or grants may be required to file calculating indirect rates.

How to fill out calculating indirect rates for?

Calculating indirect rates involves identifying all indirect costs incurred by an organization and allocating them to specific projects or activities based on a predetermined rate.

What is the purpose of calculating indirect rates for?

The purpose of calculating indirect rates is to ensure that indirect costs are allocated accurately and fairly across different projects or activities.

What information must be reported on calculating indirect rates for?

Information that must be reported on calculating indirect rates includes all indirect costs incurred, the allocation method used, and the final indirect rates calculated.

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