Allocable Costs
/ˈæləkeɪbəl kɒsts/
Definitions
- (n.) Costs that can be assigned to a specific contract, project, or cost objective in accordance with applicable regulations or accounting principles.
Only allocable costs shall be charged to the government contract.
Forms
- allocable costs
Related terms
See also
Commentary
Allocable costs must be necessary and reasonable and directly connected to the cost objective; careful documentation is essential for compliance with government contracting rules.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.