Construction Costs
Construction accounting involves charging construction costs to the applicable contract. Costs fall into three categories. Direct costs are labor, material, and subcontracting costs. Indirect costs include indirect labor, supervision, tools, equipment costs, supplies, insurance, and support costs. Selling, general and administrative costs, are generally excluded from contract costs.
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Famous quotes containing the words construction and/or costs:
“There’s no art
To find the mind’s construction in the face.”
—William Shakespeare (1564–1616)
“To exercise power costs effort and demands courage. That is why so many fail to assert rights to which they are perfectly entitled—because a right is a kind of power but they are too lazy or too cowardly to exercise it. The virtues which cloak these faults are called patience and forbearance.”
—Friedrich Nietzsche (1844–1900)