C&S ENGINEERS, INC. (A WHOLLY-OWNED SUBSIDIARY OF C&S WORLDWIDE HOLDINGS, INC.)
NOTES TO SCHEDULES OF OVERHEAD COST RATES December 31, 2019
NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES – Continued
Other Direct Cost Accounts and Charge Rates
The Company allocates non-salary direct project costs, sometimes referred to as Other Direct Costs (ODCs), to the respective project. Unless otherwise stated in a contract, mileage is charged to the associated project at the standard rate issued by the Internal Revenue Service. All other types of ODCs are charged directly to the associated project in the amount of actual costs incurred. ODCs include:
Auto Rental
Equipment Rental
Mileage
Travel and Subsistence
Outside Professional Services
Cost Estimation Process
The Company’s method of estimating costs for pricing purposes during the proposal process was consistent with the accumulation and reporting of costs under the Company’s job order cost accounting system.
NOTE 3 – SUBSEQUENT EVENTS
The Company has evaluated subsequent events through May 27, 2020, the date upon which the Schedules of Overhead Cost Rates was available for issuance. There were no items that required disclosures as a result of this evaluation.
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