Answer the following questions and state the question before the answers. Please remember that some questions contain more than one question or answer. Please include the proper FAR references in your answers
1. What specific part of the FAR contains the instructions for submitting a contract pricing proposal?
2. When analyzing direct material costs, what must a contracting officer focus on?
3. What are the different methods of analysis for evaluating the contractors direct material cost? Describe each one in detail
4. Estimated overhead cost is divided up by a factor called what?
5. Some examples of proper labor related expenses are?
6. When does the Government use cost reimbursement contracts?
7. What are General and Administrative expenses?
8. How does the contractor compute the cost of facilities when preparing their cost proposal
9. What are the provisions and clauses regarding facilities capital cost of money?
10. What is the government policy regarding profit?
11. How does paying a contractor a fair and reasonable profit benefit the Government?
12. What is the misconception about the profit and fee a contractor receives?
13. What are the Contracting Officer Responsibilities regarding a contractors profit and fee?