First, you will learn what a budget is, its two parts, and how to calculate direct costs related to personnel. Then, you will learn how to calculate direct costs not related to personnel, or non-personnel direct costs. Finally, you will learn how to calculate indirect costs and determine your final budget cost. Let's take a look at how budgets are put together. Let's look at direct costs first.
Direct costs are easy to identify.
Let's look at Personnel Costs, first. These are the direct costs for salaries and wages. Let's figure a sample personnel charge. Chatoya Neal will be the director of your project. You need four pieces of information.