FAR 31.201-1 Composition of total cost

Subsection Federal Acquisition Regulation

Facts

Citation
FAR 31.201-1
Type
Subsection
Last amended
69 FR 17764 Effective May 5, 2004
Text as of
FAC 2026-01
Official text
acquisition.gov

Text from acquisition.gov. Federal Register history from the Federal Register's records of the rules that amended this subsection.

Text

(a) The total cost, including standard costs properly adjusted for applicable variances, of a contract is the sum of the direct and indirect costs allocable to the contract, incurred or to be incurred, plus any allocable cost of money pursuant to 31.205-10, less any allocable credits. In ascertaining what constitutes a cost, any generally accepted method of determining or estimating costs that is equitable and is consistently applied may be used.

(b) While the total cost of a contract includes all costs properly allocable to the contract, the allowable costs to the Government are limited to those allocable costs which are allowable pursuant to part 31 and applicable agency supplements.

Federal Register history

Final rule Published Effective
Federal Acquisition Regulation; General Provisions of the Cost Principles 69 FR 17764 · FAC 2001-22

Sections cited

Quick answers

What is FAR 31.201-1?

FAR 31.201-1 is a subsection of the Federal Acquisition Regulation, titled "Composition of total cost".

When was FAR 31.201-1 last changed?

The most recent final rule on record is "Federal Acquisition Regulation; General Provisions of the Cost Principles" (69 FR 17764), published Apr 5, 2004 and effective May 5, 2004.

Are changes to FAR 31.201-1 proposed?

No proposed rule from the last 3 years is waiting on a final rule.

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