Purchase Solution

Time-and-Materials (T&M) and Labor-Hour (LH) Contracts

Not what you're looking for?

Ask Custom Question

Briefly, what are the cost and concepts behind using 1) time and materials and 2) labor hour contract types

Purchase this Solution

Solution Summary

This solution helps with questions involving the costs and concepts behind time, materials, labor hour contract types.

Solution Preview

Time-and-Materials (T&M) and Labor-Hour (LH) contracts are forms of cost-reimbursement contracts used by the Federal Government, as well as other principals. These are useful when it is not possible to accurately estimate the extent or duration of the work or to anticipate costs with any reasonable degree of confidence when making the contract. These types of contracts are ...

Purchase this Solution


Free BrainMass Quizzes
Production and cost theory

Understanding production and cost phenomena will permit firms to make wise decisions concerning output volume.

Writing Business Plans

This quiz will test your understanding of how to write good business plans, the usual components of a good plan, purposes, terms, and writing style tips.

Organizational Leadership Quiz

This quiz prepares a person to do well when it comes to studying organizational leadership in their studies.

Basics of corporate finance

These questions will test you on your knowledge of finance.

Academic Reading and Writing: Critical Thinking

Importance of Critical Thinking