Birdwatch Note Rating
2024-12-02 20:33:53 UTC - HELPFUL
Rated by Participant: 624833F5090E14F2E9271F51A631B5959B7BDB4290A2B03ACB597C36B738A608
Participant Details
Original Note:
X% overhead means for every $1 spent for direct costs, an extra x cents goes toward indirect costs (overhead). So .70 in indirect costs (overhead) for every dollar of direct costs—0.7/1=0.7 A rate of 70% means that 41% of the money spent goes to overhead—0.7/(0.7+1)=~41%. https://www.freshbooks.com/hub/accounting/calculate-overhead-cost#:~:text=The%20overhead%20rate%20or%20the,costs%20and%20multiply%20by%20100.
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