Contract Pricing:

Material Prices Overstated on T-56 Engine Contracts

NSIAD-86-156: Published: Aug 26, 1986. Publicly Released: Aug 26, 1986.

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GAO reviewed six Air Force T-56 aircraft engine contracts to determine if the contract prices were fair and reasonable, specifically whether the contractor provided accurate, complete, and current cost or pricing data.

GAO found that the contractor submitted inaccurate and outdated cost pricing databased on erroneous foreign exchange rates for two foreign-made engine parts. GAO believes that the Air Force should take action to recover the overpayment from the contractor.

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