T&M Contracts question about tracking

[JLo]

For a time & materials contract... do both labor and materials need to be tracked by task order or just by contract?

[here_2_help]

If you have a T&M Task Order, then you need to track all costs associated with that Task Order. However, because it's a T&M type, for purposes of complying with the requirements of 52.232-7, you need to track labor hours at the hourly billing rates while tracking material costs at actual cost. (You'll also need the labor hours at the hourly billing rate info for Schedule K of your proposal to establish final billing rates.)