BUS 315 Cost and Price Analysis
To understand what price analysis is, let us review how the Federal Acquisitions Regulations (FAR) defines Price Analysis. Per FAR 15.404-1(b) Price Analysis is the process of examining and evaluating a proposed price, without analyzing its separate cost elements and proposed profit. There is no specific definition for “Price Reasonableness” or “Fair and Reasonable Price” in the FAR. – Suggestion: Substitute price for cost in the FAR definition below. – Cost Reasonableness : A cost (price) is reasonable if, in its nature and amount, it does not exceed what a prudent person would pay in the conduct of competitive business [FAR 31.201-3(a)]. Bottom Line: Price Reasonableness is determined by the results of a price analysis. “ A price is determined reasonable if it does not exceed what a prudent consumer an
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VectorCal’s drone navigation system, BUS 315 Assignment 4 help
In order to complete this assignment, refer to the scenario from Assignment 1, as well as to the scenarios and readings from previous weeks.
Write a two to three (2-3) page paper in which you:
- Predict the main costs (e.g. labor cost, material cost) associated with the production of VectorCal’s drone navigation system. Provide a rationale for your response.
- Compare and contrast the direct and indirect costs associated with the drone navigation system that both your company and VectorCal would assume. Predict whether or not your company could easily control these costs and thus reduce production expenses. Justify your response.
- Compare your company with VectorCal relative to the price of acquisition, semi-variable costs, and allocated direct and indirect costs of the drone navigation system. Justify your response.
- Use at least three (3) quality resources in this assignment. Note: Wikipedia and similar Websites do not qualify as quality resources.
Your assignment must follow these formatting requirements:
- Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
- Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
- Outline the process to forecast the likely price of an acquisition, calculate semi-variable costs, and allocate direct and indirect costs.
- Examine the various cost classifications, the different allocation bases, and the application of cost-accounting standards.
- Determine how to validate costs and certify cost and pricing data.
- Use technology and information resources to research issues in cost and price analysis.
- Write clearly and concisely about cost and price analysis using proper writing mechanics.
Imagine that you just created a new start-up company. You want to compete in the growing industry of drone navigation systems. VectorCal is the only major company in the field. You also want to be a leaner, faster version of a company that you view as being too slow and costly. Note: you may create and /or make all necessary assumptions needed for the completion of this assignment.
Write a two to three (2-3) page paper in which you:
- Describe the new start-up company that you have created. Include in your description the nature of your company, its mission and vision, your company’s product, an analysis of your staff, and your target clientele.
- Criticize VectorCal’s forecasting method. Determine the appropriate forecasting approach for your company. Provide a rationale to support your determination.
- Suggest the semi-variable, allocated, and indirect costs that you should address in the startup phase of your company. Provide a rationale to support your response.
- Use at least three (3) quality resources in this assignment. Note: Wikipedia and similar Websites do not qualify as quality resources.
Your assignment mustfollow these formatting requirements:
- Be typed, doublespaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
- Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date.The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
- Determine the characteristics of government contracting that affect pricing and what is considered fair and reasonable pricing.
- Outline the process to forecast the likely price of an acquisition, calculate semi-variable costs, and allocate direct and indirect costs.
- Use technology and information resources to research issues in cost and price analysis.
- Write clearly and concisely about cost and price analysis using proper writing mechanics.
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