Fully Loaded Standard Cost Definition | Law Insider (2024)

  • Fully Loaded Cost means the direct cost of good or service plus all applicable indirect charges and overheads.

  • Standard Cost means any cost computed with the use of preestablished measures.

  • Fully Burdened Manufacturing Cost means, with respect to any Licensed Product supplied by or on behalf of NVCR to Zai hereunder if such Licensed Product (or any precursor or intermediate thereof) is manufactured by a Third Party manufacturer [***].

  • Stranded cost means the amount by which the net cost of an

  • Direct Cost means a cost not to exceed the cost of labor, material, travel and other expenditures to the extent the costs are directly incurred to provide the relevant assistance or service. “Direct Cost” to the Acquirer for its use of any of a Respondent’s employees’ labor shall not exceed the average hourly wage rate for such employee;

  • Cost of Goods Sold means [***].

  • Project Cost means the costs incurred in connection with the

  • The Contract Price/Project Cost means the price payable to the Vendor under the Contract for the full and proper performance of its contractual obligations.

  • Indirect Cost Rate means a device for determining in a reasonable manner the proportion of indirect costs each Program should bear. It is a ratio (expressed as a percentage) of the Indirect Costs to a Direct Cost base. If reimbursem*nt of Indirect Costs is allowable under an Award, Grantor will not reimburse those Indirect Costs unless Grantee has established an Indirect Cost Rate covering the applicable activities and period of time, unless Indirect Costs are reimbursed at a fixed rate.

  • Eligible cost means as applied to a qualified project to be financed from the federal accounts, the costs that are permitted under applicable federal laws, requirements, procedures, and guidelines in regard to establishing, operating, and providing assistance from the bank. As applied to a qualified project to be financed from the state highway account, these costs include the costs of preliminary engineering, traffic and revenue studies, environmental studies, right‑of‑way acquisition, legal and financial services associated with the development of the qualified project, construction, construction management, facilities, and other costs necessary for the qualified project. As applied to any qualified project to be financed from the state transit account, eligible project costs are limited to capital expenditures for transit equipment and facilities.

  • Bondable stranded costs rate order means one or more

  • Indirect cost means any cost not directly identified with a single final cost objective, but identified with two or more final cost objectives or with at least one intermediate cost objective.

  • Manufacturing Cost means ***

  • Fixed Costs means costs which do not vary with consumption or volume produced;

  • Total Contract Price/Project Cost/TCO means the price payable to Service Provider over the entire period of Contract for the full and proper performance of its contractual obligations.

  • Total Contract Price/Project Cost/TCO means the price payable to Service Provider over the entire period of Contract for the full and proper performance of its contractual obligations.

  • Total cost means the total annual cost of benefits and related costs including but not limited to claims, administration expenses, insurance premiums, consulting and advisory fees and all other costs and taxes, as reported on the insurance carrier’s most recent yearly statement and, if any, premium costs on other school authority financial statements for the year not ending later than August 31, 2015. The statements are to be provided to the Ministry of Education.

  • Subproject means a specific water and/or sanitation Subproject financed or to be financed by a Subproject Grant (as hereinafter defined) provided from the proceeds of the Credit under Part C.1 of the Project;

  • Incurrence Test means the incurrence test set out in Clause 12.1 (Incurrence Test).

  • Cost of Goods means the fully burdened cost to manufacture Compound or Drug Product, as applicable, (the “Supplied Product”) which means: (a) [ * ]; and (b) in the case of [ * ]. Actual unit costs shall consist of [ * ].

  • Low-level radioactive waste or “waste” means radioactive material that consists of or contains class A, B, or C radioactive waste as defined by 10 C.F.R. 61.55, as in effect on January 26, 1983, but does not include waste or material that is any of the following:

  • Subprojects means more than one such Subproject.

  • Support Cost Rate means the flat rate at which the Partner will be reimbursed by UN Women for its Support Costs, as set forth in the Partner Project Document and not exceeding a rate of 8% or the rate set forth in the Donor Specific Conditions, if that is lower. The flat rate is calculated on the eligible Direct Costs.

  • Nonconforming structure means a structure the size, dimension or location of which was lawful prior to the adoption, revision or amendment of a zoning ordinance, but which fails to conform to the requirements of the zoning district in which it is located by reasons of such adoption, revision or amendment.

  • Total Project Cost means all the funds to complete the effort proposed by the Applicant, including DOE funds (including direct funding of any FFRDC) plus all other funds that will be committed by the Applicant as Cost Sharing.

  • Net cost means the Contractor’s actual cost after deducting all permitted cash and trade discounts, rebates, allowances, credits, sales taxes, commissions, and refunds (whether or not any or all of the same shall have been taken by the Contractor) of all parts and materials purchased by the Contractor solely for the use in performing its obligation hereunder provided, where such purchase has received the prior written approval of the Manager as required herein. The Contractor shall promptly furnish to the Manager such bills of sale and other instruments as the Manger may require, executed, acknowledged and delivered, assuring to the Manager title to such materials, supplies, equipment, parts, and tools free of encumbrances.

  • Fully Loaded Standard Cost Definition | Law Insider (2024)

    FAQs

    Fully Loaded Standard Cost Definition | Law Insider? ›

    Fully Loaded Cost means the direct cost of good or service plus all applicable indirect charges and overheads. Standard Cost means any cost computed with the use of preestablished measures.

    What is the fully loaded standard cost? ›

    Fully Loaded Cost consists of 'Direct Labor Costs', general office expenses, such as space and supplies, and other direct costs of 'Goods' or 'Services' plus all applicable indirect charges and overheads.

    What is the fully loaded employee cost? ›

    The fully loaded cost for an employee includes taxes, benefits, insurance, commission, etc. Employers will need to include personal supplies, such as laptops or a company car. Some employers will also include a proportional amount of the costs such as the electric bill in the office, although this is not the norm.

    What is the full standard costing? ›

    To calculate standard costs, you add your estimated direct materials costs, labor costs, and manufacturing overhead. These costs form the baseline from which you measure actual costs.

    What is a fully loaded cost allocation? ›

    Fully Loaded Cost means the direct expense of a particular good, product or service, in addition to indirect charges and overhead that can be reasonably allocated to the delivery of such good, product or service, in line with US GAAP standards.

    What does fully loaded mean? ›

    With all features and options. That Accord came fully-loaded with a moonroof, power windows — the whole she-bang! Wiktionary.

    What does fully loaded basis mean? ›

    'Fully loaded' When a measure is presented or described as being on a fully loaded basis, it is calculated without applying the transitional provisions set out in Part Ten of the CRD IV Regulation.

    How to calculate fully loaded FTE cost? ›

    FTE Fully Loaded Cost means an amount equal to the sum of: (i) the salary of the FTE, (ii) a percentage xxxx-up of thirty (30%) percent of the FTE salary, and (iii) a monthly charge of seven hundred and fifty dollars ($750) per FTE to cover all overhead.

    What is the standard employee cost? ›

    Total employer compensation costs for private industry workers averaged $43.11 per hour worked in December 2023. Wages and salaries averaged $30.33 per hour worked and accounted for 70.4 percent of employer costs, while benefit costs averaged $12.77 per hour worked and accounted for the remaining 29.6 percent.

    What does fully loaded hourly rate mean? ›

    Loaded Hourly Rates means billing rates that are all-inclusive and must reflect direct labor costs, including fringe benefits, overhead and profit. These rates must also include the costs to maintain any required field offices, mileage, tolls, parking, and travel and lodging expenses.

    What are the three types of standard costs? ›

    DIFFERENT TYPES OF STANDARD COSTS

    There are three main categories of standard costs, basic standard costs, ideal standard costs and currently attainable standard costs.

    What is the difference between standard cost and full cost? ›

    While standard cost is an estimate of the expected cost, actual cost is what was actually spent to produce the product. Actual cost includes the total cost of materials, direct labor, and overhead costs that are incurred due to production.

    How do you explain standard cost? ›

    Standard costs are estimates of the actual costs in a company's production process, because actual costs cannot be known in advance. This helps a business to plan a budget.

    What does fully loaded mean in accounting? ›

    Accountants use the term “fully loaded” to indicate that all direct and indirect costs have been included in the cost calculation.

    What is the meaning of cost loaded? ›

    What is a cost loaded schedule? A cost loaded schedule has costs assigned to activities throughout the project. By assigning these costs, teams can better forecast and monitor project expenses, identify potential budget overruns, and evaluate project progress against the financial plan.

    What does fully allocated cost mean? ›

    Fully Allocated Cost: a fully allocated cost means a cost that represents the full cost of a transit route or service, including all costs incurred by the transit agency—both variable and fixed. Variable Costs: costs that are mainly a function of the amount of service provided.

    What is an example of a loaded cost? ›

    Answer and Explanation:

    Costs incurred for travelling of employees or training of employees or cost incurred for obtaining hardware and software are considered as some of the examples of fully loaded costs.

    What does loaded labor rate mean? ›

    The phrase "fully loaded" appears in 88 going back to 1957 and in 144 GAO protest decisions. They are mostly applied to labor. The phrases indicate that the costs of employee benefits, applicable indirect costs, and profit are to be, or have been, added to a direct cost rate, usually a labor rate.

    How much does payroll cost per employee? ›

    Businesses can expect to spend between $30 and $100 per employee per month with a payroll service provider. Direct deposit: There may be a cost associated with the banking software you use to process your payroll transactions.

    Top Articles
    Latest Posts
    Article information

    Author: Prof. An Powlowski

    Last Updated:

    Views: 5752

    Rating: 4.3 / 5 (44 voted)

    Reviews: 83% of readers found this page helpful

    Author information

    Name: Prof. An Powlowski

    Birthday: 1992-09-29

    Address: Apt. 994 8891 Orval Hill, Brittnyburgh, AZ 41023-0398

    Phone: +26417467956738

    Job: District Marketing Strategist

    Hobby: Embroidery, Bodybuilding, Motor sports, Amateur radio, Wood carving, Whittling, Air sports

    Introduction: My name is Prof. An Powlowski, I am a charming, helpful, attractive, good, graceful, thoughtful, vast person who loves writing and wants to share my knowledge and understanding with you.