Actual and reasonable cost definition

Actual and reasonable cost means the actual amount of expenses and labor incurred or
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Actual and reasonable cost means the actual amount of expenses and labor incurred or expended and the reasonable amount of expenses and labor estimated to be incurred or expended.
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Examples of Actual and reasonable cost in a sentence

  • Actual and reasonable cost of maintenance and repairs properly incurred by Soles pursuant to this contract.

  • Actual and reasonable cost shall be allowed for meals related to attendance at conventions, conferences, or seminars; meals related to a work assignment which require an overnight stay away from home; or meals related to travel which must begin prior to 7 a.m. (breakfast) or terminate after 7 p.m. (dinner).

  • Lodging (supported by itemized receipt) Actual and reasonable cost Meals………… Breakfast: $10.00Lunch: $15.00 Dinner: $25.00 Incidentals (allowance includes but not limited to:Tips: $5.00Note: Incidental expenses may be claimed for whole periods of 24 hours only.

Related to Actual and reasonable cost

  • Earnable compensation means the full rate of the

  • Reasonable and Customary Charges means expenses which:

  • Direct Cost means a cost not to exceed the cost of labor, material, travel and other expenditures to the extent the costs are directly incurred to provide the relevant assistance or service. “Direct Cost” to the Acquirer for its use of any of a Respondent’s employees’ labor shall not exceed the average hourly wage rate for such employee;

  • Reasonable suspicion means a basis for forming a belief based on specific facts and rational inferences drawn from those facts.