CLC 056 Final Exam Analyzing Contract Costs. Questions With Answers.
28 views 1 purchase
Course
CLC 056
Institution
CLC 056
CLC 056 Final Exam Analyzing Contract Costs. Questions With Answers.Here is your test result.The dots represent the choices you have made.
The highlighted questions are the questions you have missed.
Remediation Accessed shows whether you accessed those links.'N' represents links not
vis...
Here is your test result.The dots represent the choices you have made.
The highlighted questions are the questions you have missed.
Remediation Accessed shows whether you accessed those links.'N' represents links not
visited and 'Y' represents visited links.
1.) Which of the following must be true to properly classify a cost as an “other direct
cost”?
The offeror customarily treats similar costs as “other direct costs” under similar circumstances
The proposed cost benefits only the proposed contract work
The contractor’s accounting system segregates “other direct costs” from similar indirect costs
All of these
2.) Which of these statements below is correct regarding the criteria for classifying a
special test equipment cost as an "other direct cost”?
Engineered, designed, fabricated, or modified to meet not only the requirements of the current
contract but also the requirements of all other contracts
Developed and engineered by a subcontractor who is not currently working on another contract
An item (e.g., fixture, pattern, or gauge) that is necessary in aiding the development of a unique
product
Engineered, designed, fabricated, or modified to meet specific contract needs and cannot be used
for other contracts
3.) What is the most common base for calculating
[Identify indirect [Remediation
the General and Administrative (G&A) overhead cost pools and bases] Accessed: N]
rate?
Total price
, Total G&A expense
Total management cost
Total of all costs
4.) What two costs elements are required [Identify the process of [Remediation
to calculate an indirect cost rate? calculating indirect cost rates] Accessed: N]
Expense pool and Allocation base
Allocation base and Overhead rate
Overhead rate and Expense base
Allocation Pool and Expense base
5.) In which of the following phases does the contractor determine actual indirect cost
rates?
Billing Phase
Forward Pricing Phase
Beginning Payment Phase
Final Allocation Phase
6.) Which of the following situations would you most likely employ linear regression
techniques?
Comparing the proposed costs of a new computer database with the historical costs of all recent
contracts in your office
Calculating the mean cost of one individual unit in a production run of 10,000 units
, Estimating the cost of a new armored vehicle based on historical costs of similar procurements
Analyzing the accuracy of a should-cost analysis generated by a DCMA Industrial Engineer
7.) Which regression method would be used [Identify the different
[Remediation
when there is more than one independent regression analysis
methods] Accessed: N]
variable?
Multivariate regression
Segmented regression
Curvilinear regression
Simple linear regression
8.) Identify the situation where you would use simple linear regression.
Indirect cost rate analysis
Labor classification analysis
Facilities Capital Cost of Money calculation
Profit objective calculation
9.) Which variable is also considered the independent variable?
Y
Z
X
R
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller StudyConnect. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $17.49. You're not tied to anything after your purchase.
