[Code of Federal Regulations]

[Title 48, Volume 1]

[Revised as of October 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 48CFR31.201-1]



[Page 600]

 

            TITLE 48--FEDERAL ACQUISITION REGULATIONS SYSTEM

 

                CHAPTER 1--FEDERAL ACQUISITION REGULATION

 

PART 31_CONTRACT COST PRINCIPLES AND PROCEDURES--Table of Contents

 

          Subpart 31.2_Contracts With Commercial Organizations

 

Sec. 31.201-1  Composition of total cost.



    (a) The total cost, including standard costs properly adjusted for 

applicable variances, of a contract is the sum of the direct and 

indirect costs allocable to the contract, incurred or to be incurred, 

plus any allocable cost of money pursuant to 31.205-10, less any 

allocable credits. In ascertaining what constitutes a cost, any 

generally accepted method of determining or estimating costs that is 

equitable and is consistently applied may be used.

    (b) While the total cost of a contract includes all costs properly 

allocable to the contract, the allowable costs to the Government are 

limited to those allocable costs which are allowable pursuant to Part 31 

and applicable agency supplements.



[69 FR 17767, Apr. 5, 2004]