Effect of sound on oyster Essay Example | Topics and Well Written Essays - 750 words

Effect of sound on oyster - Essay Example sts $15,000 $10,000 $10,000 $35,000 Total Direct Costs $72,498 $62,064 $64,130 $198,692 Indirect Costs (Overhead) $18,849 $16,137 $16,674 $51,660 Indirect Cost Rate (%) 26% 26% 26% 26% Total $91,347 $78,201 $80,804 $250,352 Budget justification Senior personnel and fringe benefits The PI is involved in three other projects of equal work load which implies that this particular project consumes 25% of his time. The result is that the project takes care of 25% of his annual income. A post doctoral research associate is contracted to provide services and technical advice on the growth characteristics of oyster and oyster eggs. He is expected to do an evaluation of the proceedings once every month. Since he is attached at the center, he is paid on service offered which results into twelve days in one year. The post doctoral research associate is therefore paid for twelve days as a fraction of a year depending on the annual income of the first, second and third years which are $37,000, $39 ,000 and $41,000 respectively. Two undergraduate students are required to set the experimental set ups and make necessary corrections depending on the emerging changes. They also maintain the system and ensure the preset conditions prevail (Preparing a budget: expert solutions to everyday challenges, 2009). The work of collecting and recording the information in terms of changes in mass and doing the statistical analysis is also for the two undergraduate students. This gives an annual pay of $10,500 each and translates to the annual $21,000 for both. The fringe benefits are calculated for the PI and the two undergraduate students who seem to be contracted on permanent or regular basis. The post doctoral research associate only provides his service once a month and is therefore not entitled to fringe benefits. For the PI, it is calculated as 27.5% of the salary while for the two undergraduate students, it is calculated as 7.65%. Supplies and services An amount to the tune of $20,000 is requested to take care of some of the materials such as seeds of oyster, food and special sound devices to be used in the aquarium (Ogden, & Goldberg, 2002). In the first year, the cost is estimated at $10,000 since some of the requirements are onetime costs and will only be incurred in the initial stages. The subsequent years are allocated $5,000 each for provision of the maintenance requirement for the project. The costs incurred here include all the consumables and disposable during the project (Hood & Husband, 2002). Travel For year 1, the PI requests $2,000 to take care of travel expenses as he seeks to use the ABC center for the study. The travel expense will also include collaborative travel expenses to set up and run the system for all the other participants including the undergraduate assistants and the post-doctoral research associate (Blomquist & Newey, 1999). During the second year, the cost decreases to $1,500 as there are reduced travel cost