Expert answer:Exercises # 2 ASCM
Solved by verified expert:Assignment # 2 . See Attached.
ascm_628_9040_2178_exercise_2.docx
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23 October 2017
ASCM 628 9040 2178 – Exercise 2 (due Sunday 10/29/2017)
Identify the following Questions as either [TRUE] or [FALSE] by clicking the “True” Column box, if
True, or the “False” Column box, if False, as your selection.
QUESTION
1. The contractor may treat any direct cost of a minor dollar amount as an indirect
cost only if the accounting treatment produces substantially the same results as
treating the cost as a direct cost.
2. In performance of Price Analysis, information concerning cost buildup from a
prospective offeror is not a requirement and out of the buyers scope.
3. Consolidated priced summary of individual material quantities included in the
various tasks, orders, or contract line items being proposed and the basis for pricing
is a minimum requirement for supporting material costs.
4. Any one of the seven techniques for price analysis may be combined, but not
used singly to ensure the final price is fair and reasonable.
5. The contractor shall submit, or cause to be submitted by the subcontractor(s),
certified cost or pricing data to the Government for subcontracts, unless the
contracting officer believes such submission is unnecessary.
6. Cost Principles requires that the FCCOM calculation be rounded to four decimal
places.
7. In the case of defective pricing findings, the Government is entitled to the price
adjustment as its exclusive remedy for overpayment.
8. Cost realism analysis must be performed in connection with award of all fixed
price contracts.
9. Certified Cost or Pricing Data does not apply to government contracts when cost
analysis is performed.
10. Proposed “competitive” subcontract supported with adequate competition to
determine fair and reasonable price is a common DCAA finding for subcontract
costs.
11. Commercial items are not exempt from the requirements for cost or pricing data
and CAS.
12. Using an acceptable estimating system for proposal preparation benefits both
the Government and the contractor by increasing the accuracy and reliability of
individual proposals, and expedite the negotiation process.
13. FAR requires that you include facilities cost of capital in cost objectives when
applying profit or fee factors.
14. There are 20 Cost Accounting Standards.
15. The burden of proof for reasonableness of cost is always on the buyer.
16. Prices set by law or regulations are exempt from CAS & Cost or Pricing data.
17. Small businesses are not exempt from Cost or Pricing data requirements.
18. FAR Part 31 criteria for cost allowability include only allocability and
reasonableness for sufficiency.
19. Price analysis is the process of examining and evaluating a proposed price
without evaluating its separate cost elements and proposed profit.
20. For cost-plus-fixed-fee contracts that are not experimental, developmental, or
research, the fee shall not exceed 10 percent of the contract’s estimated cost.
TRUE
FALSE
…
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