What is the depreciation expense for 2019? (2) Under cost-reimbursement contracts and under all fixed-price contracts except firm-fixed-price contracts and fixed-price contracts with economic price adjustment, payments to subcontractors that are higher than they would be had there been no defective subcontractor certified cost or pricing data shall be the basis for disallowance or nonrecognition of costs under the clauses prescribed in 15.408(b) and (c). Approvals needed. (ii) The award of a subcontract at any tier, if the contractor and each higher-tier subcontractor were required to furnish certified cost or pricing data (but see waivers at 15.403-1(c)(4)). (9) To the extent such direction has a significant effect on the action, a discussion and quantification of the impact of direction given by Congress, other agencies, and higher-level officials (i.e., officials who would not normally exercise authority during the award and review process for the instant contract action). 3705(a) and 41U.S.C.3505(a)) if the contracting officer determines that adequate data from sources other than the offeror are not available. true. Describe what illustrations should show about a product. The difference between market value and acquisition value assessments is substantially larger for households . (g) Pension Adjustments and Asset Reversions. (2) Cost realism analyses shall be performed on cost-reimbursement contracts to determine the probable cost of performance for each offeror. Considerations include the complexity of the items required, the number of purchase orders and subcontracts to be awarded and administered, whether established sources are available or new or second sources must be developed, and whether material will be obtained through routine purchase orders or through complex subcontracts requiring detailed specifications. trade-offs made or relied on by the KO, including benefits associated with additional costs. What is the method of procurement and synopsis for a requirement >$3.5K to 15K? x intra-entity receivables and payables are . Disposition of the action should be documented. The ACO should use this information to form the basis for the Government position in negotiating an FPRA with the contractor. (viii) Any other information the contracting officer requires in order to evaluate the program. What are the Competition Requirements for Simplified Acquisitions? prefers not to use Make negotiated equitable adjustments and definitize change orders, Provide technical direction that does not change the contract in accordance with the Letter of designation received from the Contracting officer. This includes requiring data from an offeror to support a cost realism analysis; (iii) Consider whether cost data are necessary to determine a fair and reasonable price when there is not adequate price competition; (iv) Require that the data submitted by the offeror include, at a minimum, appropriate data on the prices at which the same item or similar items have previously been sold, adequate for determining the reasonableness of the price unless an exception under 15.403-1(b)(1) or (2) applies; and. Assist small business concerns, veteran owned small business concerns, HUBZone small business concerns, small disadvantaged business concerns and women-owned small business in obtaining contracts and subcontracts. The Government is also entitled to penalty amounts on certain of these overpayments. All data submitted in connection with the FPRA, updated as necessary, form a part of the total data that the offeror certifies to be accurate, complete, and current at the time of agreement on price for an initial contract or for a contract modification. L. 85-804 shall be accomplished as expeditiously as practicable, consistent with the care, restraint, and . When determination of a fair and reasonable price is based on price analysis, the summary shall include the source and type of data used to support the determination. Greater profit opportunity should be provided under contracts requiring a high degree of professional and managerial skill and to prospective contractors whose skills, facilities, and technical assets can be expected to lead to efficient and economical contract performance. Assume that the estimated productive life of the machine was 16,000 hours. Purpose. (1) The contracting officer should contact the cognizant audit office directly, particularly when an audit is the only field pricing support required. (4) Waivers. * Identify the proposal, request for price adjustment, or other submission involved, giving the appropriate identifying number (e.g., RFP No.). 1.6 Contracting Authority and Responsibilities
(3) Obtain the type and quantity of data necessary to establish a fair and reasonable price, but not more data than is necessary. If the HCA has waived the requirement for submission of certified cost or pricing data, the contractor or higher-tier subcontractor to whom the waiver relates shall be considered as having been required to provide certified cost or pricing data. (a) When certified cost or pricing data are required, the contracting officer shall require the contractor to execute a Certificate of Current Cost or Pricing Data, using the format in this paragraph, and must include the executed certificate in the contract file. Its number -Does NOT require Congressional Approval. When performing surveillance on a contract, a COR may be asked to? (2) At a minimum, the technical analysis should examine the types and quantities of material proposed and the need for the types and quantities of labor hours and the labor mix. -Promoting the acquisition of commercial items The fees are additional dollars paid to the contractor based upon the contractor meeting or . that, in the Government's estimation, provides the greatest overall benefit in response to the requirement. This form also must be completed before the program official submits the purchase request (PR) package to the Procurement Office. (iii) Use of parametric estimating methods/application of rough yardsticks (such as dollars per pound or per horsepower, or other units) to highlight significant inconsistencies that warrant additional pricing inquiry. the contracting officer or the source selection authority INVOICE: Wide Area Work Flow (WAWF) is a Paperless Contracting . Actual decision, or determination Unless an exception under 15.403-1(b)(1) or (2) applies, the contracting officer shall require that the data submitted by the offeror include, at a minimum, appropriate data on the prices at which the same item or similar items have previously been sold, adequate for determining the reasonableness of the price. High School For Environmental Studies Ceeb Code, This acquisition is conducted under the authority of 41 An acquisition plan may have numerous elements as listed in FAR 7.105; depending upon the estimated cost of the acquisition, these elements include: Statement of need and background Applicable conditions Cost Life cycle costs if applicable Capability or performance Delivery or performance requirements For more information on peer reviews, see DFARS 201.170 and AFARS 5101.170. . You can usually find these by doing a google search for something like: Depending upon the estimated dollar value of the acquisition: the contracting officer or the source selection authority. This factor allows additional profit opportunities to a prospective contractor that has previously demonstrated its ability to perform similar tasks effectively and economically. (1) When the program is to be incorporated in the contract and the design status of the product being acquired does not permit accurate precontract identification of major items or work efforts, the contracting officer shall notify the prospective contractor in writing that these items or efforts, when identifiable, shall be added under the clause at 52.215-9, Changes or Additions to Make-or-Buy Program. Inflation is the rate at which the general level of prices for goods and services is rising and, consequently, the purchasing power of currency is falling. The phases of the services acquisition process are. Broaden industry participation in meeting Government requirements; and Contracting officers shall evaluate and negotiate proposed make-or-buy programs as soon as practicable after their receipt and before contract award. Acquisition Detail - purchase order number, donation source or gift source 9. This factor measures the degree of support given by the prospective contractor to Federal socioeconomic programs, such as those involving small business concerns, small business concerns owned and controlled by socially and economically disadvantaged individuals, women-owned small business concerns, veteran-owned, HUBZone, service-disabled veteran-owned small business concerns, sheltered workshops for workers with disabilities, and energy conservation. Such techniques and procedures include the following: (i) Verification of cost data or pricing data and evaluation of cost elements, including-. Explain the basis for the estimates, including identification of any provision for experienced or anticipated allowances, such as shrinkage, rework, design changes, etc. A fiscal year appropriation may be obligated only to meet a legitimate, or bona fide, need arising in the fiscal year for which the appropriation was made. L. 110-181 ). Glaxo Holdings had an estimated beta of 1.10 at the end of 1994. . Any other data that may be pertinent to an assessment of the offerors ability to accomplish the technical requirements or to the cost or price analysis of the service or product being proposed should also be included in the analysis. (v) Review to determine whether any cost data or pricing data, necessary to make the offerors proposal suitable for negotiation, have not been either submitted or identified in writing by the offeror. Subcontract (except as used in 15.407-2) also includes a transfer of commercial products or commercial services between divisions, subsidiaries, or affiliates of a contractor or a subcontractor ( 10 U.S.C. (A) Use the basic clause in solicitations and contracts when the estimated value equals or exceeds $100,000, but is less than $191,000 The K values are based on 1968 dollars. (6) Percentage or dollar rate of royalty per unit. The five guides are: I Price Analysis, II Quantitative Techniques for Contract Pricing, III Cost Analysis, IV Advanced Issues in Contract Pricing, and V Federal Contract Negotiation Techniques. The contracting officer shall not require certified cost or pricing data to support any action (contracts, subcontracts, or modifications) (but may require data other than certified cost or pricing data as defined in FAR 2.101 to support a determination of a fair and reasonable price or cost realism). The contracting officer shall tailor requests to reflect the minimum essential supplementary information needed to conduct a technical or cost or pricing analysis. (d) The requirements of this subsection also apply to contracts entered into by an agency on behalf of a foreign government. The contracting officer immediately shall take appropriate action to obtain the required data. Enter your estimate for cost of work added by the change. Its title or full text. (C) For other cost-plus-fixed-fee contracts, the fee shall not exceed 10 percent of the contracts estimated cost, excluding fee. 1152.65 124009.00 Increase in Value of Equity. , when the estimated value equals or exceeds $25,000, but is less than $182,000 , unless an exception at FAR 25.401 or 225.401 applies. Which type of contract arrangement puts the risk 4. true ETHICS PROCUREMENT PERSONNEL: You are a COR working on the third year of a 5-year contract (football tickets). (C) Conversion-related indirect costs. This approach has been constantly refined over the years, without having produced any noticeable A complete discussion of supporting documentation can be found at paragraph 060106 of this . Ellipses indicate no dollar value. Risks -Foreign Military Sales (if source directed) Urgency 2.1 Definitions
Acquisition background and objectives CONTRACT AWARD: Depending upon the estimated dollar value of the acquisition: . In addition, the construction cost component of PIPs is increasing rapidly as a result of the . and WHITEHOUSE STATION, N.J., Dec. 14, 2020 (GLOBE NEWSWIRE) -- Murphy USA announced an agreement to acquire QuickChek Corporation ("QuickChek") in an all-cash transaction for . and depending on the size of the acquisition or disposition, may require . The contracting officer shall not reprice the contract solely because the profit was greater than forecast or because a contingency specified in the submission failed to materialize. Wiki User 2017-06-15 17:26:11 It is not right to use the government card for such purchases. The scope of a should-cost review can range from a large-scale review examining the contractors entire operation (including plant-wide overhead and selected major subcontractors) to a small-scale tailored review examining specific portions of a contractors operation. -May be IDIQ contracts or contracts with annual options Direct labor hours at specified fixed hourly rates that include wages, overhead, general and administrative expenses, and profit; and -Contracting Officer SHALL NOT commence sole source negotiations without a J&A "Upon closing this transaction, we will have acquired more than 55,000 net acres of highly productive, oil-weighted inventory in Howard and western Glasscock counties in just two years . are Task Order or Delivery Order contracts for information technology established by one Agency for Government wide use. (i) Acquisitions at or below the simplified acquisition threshold; (ii) Construction or architect-engineer services under part 36; (iv) Service contracts where supplies are not required; (v) Acquisitions of commercial products and commercial services; and. See 86 Fed. (a) The contracting officer shall document in the contract file the principal elements of the negotiated agreement. Under this factor, the contractor may be provided additional profit opportunities in recognition of independent development efforts relevant to the contract end item without Government assistance. Quantity deleted from inventory 11. What do the parents perceive as their role to the Day Care worker? Computing Depreciation under Alternative Methods. When this result is negative, place the amount in parentheses. what makes muscle tissue different from other tissues? If a fair and reasonable price cannot be established by the contracting officer from the analyses of the data obtained or submitted to date, the contracting officer shall require the submission of additional data sufficient for the contracting officer to support the determination of the fair and reasonable price. Military Personnel - 1 year b. (5) When a program should-cost review is planned, the contracting officer should state this fact in the acquisition plan or acquisition plan updates (see subpart 7.1) and in the solicitation. Cost reimbursement contracts 100% Government. (1) Conduct appropriate cost or price analyses to establish the reasonableness of proposed subcontract prices; (2) Include the results of these analyses in the price proposal; and. Acquisition Type - purchased, leased, or donated (gift) 8. the contracting officer or the source selection authority, INVOICE: Wide Area Work Flow (WAWF) is a Paperless Contracting, ETHICS PROCUREMENT PERSONNEL: You are a COR working on the third year of a 5-year contract (football tickets), . Identify the following terms and explain their significance. Goodwill can only be acquired. What is are the functions of diverse organisms? The initial cost estimate must be completed before entry into the execution phase and must be updated annually. ARB Coordinator. 3501: (A) When purchasing services that are not offered and sold competitively in substantial quantities in the commercial marketplace, but are of a type offered and sold competitively in substantial quantities in the commercial marketplace, they may be considered commercial services (thus meeting the purpose of 41 U.S.C.chapter 35 and 10 U.S.C. Specify the total estimated dollar value of the acquisition, inclusive of options, and the total performance/delivery period. (B) Cost data to the extent necessary for the contracting officer to determine a fair and reasonable price. ray_harris9. 12,816. ASD will maintain the site. -Urgency of requirement What are policies associated with Justification and Approval (J&A)? This subfactor measures the contribution of direct engineering, manufacturing, and other labor to converting the raw materials, data, and subcontracted items into the contract items. The FAR applies to all acquisitions as defined in the FAR, except where expressly excluded. Created by. - = guessed but unknown whether correct or not. (iv) Verification that the offeror's cost submissions are in accordance with the contract cost principles and procedures in part 31 and, when applicable, the requirements and procedures in 48 CFR chapter 99, Cost Accounting Standards. Complexity Who Depending upon the estimated dollar value of the acquisition and agency procedures the decision to award will be made by? To the extent necessary to secure a prime contract price reduction, the contracting officer should make this information available to the prime contractor or appropriate subcontractors, upon request. Explain the basis for each estimate and how the costs are charged on your accounting records (e.g., included in production costs as direct engineering labor, charged to manufacturing overhead). Should the offeror/contractor again refuse to provide adequate data, or provide access to necessary data, the contracting officer shall withhold the award or price adjustment and refer the contract action to a higher authority, providing details of the attempts made to resolve the matter and a statement of the practicability of obtaining the supplies or services from another source. (2) There are two types of should-cost reviews-program should-cost review (see paragraph (b) of this subsection) and overhead should-cost review (see paragraph (c) of this subsection). FAR 8.002(1) - Supplies (i) A firm-fixed-price contract awarded on the basis of adequate price competition; (ii) A fixed-price contract with economic price adjustment awarded on the basis of adequate price competition; (iii) A firm-fixed-price contract for the acquisition of a commercial product or commercial service; (iv) A fixed-price contract with economic price adjustment, for the acquisition of a commercial product or commercial service; (v) A fixed-price incentive contract awarded on the basis of adequate price competition; or. -Excess from other agencies For interorganizational transfers priced at cost, provide a separate breakdown of cost elements. Depending on your system, you must provide breakdowns for the following basic cost elements, as applicable: (2) All Other. When a forward pricing rate agreement or other advance agreement is used to price a contract action that requires a certificate, the certificate supporting that contract action shall cover the data supplied to support the FPRA or other advance agreement, and all other data supporting the action. If it is conducted in conjunction with a program should-cost review, a separate overhead should-cost review report is not required. Requirements Contracts , when the estimated value equals or exceeds $25,000, but is less than $182,000 , unless an exception at FAR 25.401 or 225.401 applies. (ii) Consider whether award of the contract will result in paying unreasonably high prices for contract performance. Sole Source Acquholllon DEVELOP SIJ'8tegy rl Date, quantity, and dollar value of items received into inventory 9. (c) Contracting officer responsibilities. (3) Format for submission of data supporting forward pricing rate agreements. This factor takes into account the contribution of contractor investments to efficient and economical contract performance. FedBizOps (iv) In the demand letter, the contracting officer shall separately include-. The documentation shall include a written finding that certified cost or pricing data are necessary to determine whether the price is fair and reasonable and the facts supporting that finding. Planning the purchase should begin at the earliest practicable time. -Commercial Sources. ** Insert the day, month, and year when price negotiations were concluded and price agreement was reached or, if applicable, an earlier date agreed upon between the parties that is as close as practicable to the date of agreement on price. In establishing the reasonableness of the offered prices, the contracting officer-, (1) Shall obtain certified cost or pricing data when required by 15.403-4, along with data other than certified cost or pricing data as necessary to establish a fair and reasonable price; or. (2) The contracting officer shall tailor the type of information and level of detail requested in accordance with the specialized resources available at the buying activity and the magnitude and complexity of the required analysis. (iii) In arriving at the amount due for penalties on contracts where the submission of defective certified cost or pricing data was a knowing submission, the contracting officer shall obtain an amount equal to the amount of overpayment made. On January 1, 2012, Solis Co. issued its 10% bonds in the face amount of $4,000,000, which mature on January 1, 2022. The contracting officer shall, when contracting by negotiation, insert the clause at 52.215-10, Price Reduction for Defective Certified Cost or Pricing Data, in solicitations and contracts when it is contemplated that certified cost or pricing data will be required from the contractor or any subcontractor (see 15.403-4). (D) General management. The prime contractor is responsible for updating a prospective subcontractors data. (iii) Document the basis for such determination. Such information shall be used to determine whether the intrinsic value of an item has been distorted through application of overhead and whether such items should be considered for breakout. The contracting officer should require such information in all other negotiated contracts when appropriate. Our acquisition regulations provide foundation on which the acquisition is based and legally delegate which type of authority to the contracting . (1) Unbalanced pricing may increase performance risk and could result in payment of unreasonably high prices. for supplies or services currently being provided by a small business and the proposed acquisition is of a quantity or estimated dollar value, the magnitude of which makes it unlikely that small businesses can compete . The completed field pricing assistance results may reference audit information, but need not reconcile the audit recommendations and technical recommendations. If there has been a significant time lapse between the last acquisition and the present one, if the terms and conditions of the acquisition are significantly different, or if the reasonableness of the prior price is uncertain, then the prior price may not be a valid basis for comparison. (h)Ensuring that the principles of this subpart are used, as appropriate, for those acquisitions that do not require a written plan as well as for those that do. . (j) Reversion or Adjustment of Plans for Postretirement Benefits (PRB) Other Than Pensions. (c) The contracting officer and contractor are encouraged to reach a prior agreement on criteria for establishing closing or cutoff dates when appropriate in order to minimize delays associated with proposal updates. Certificate of Current Cost or Pricing Data.