Define your own complex cost structures to use in your company’s cost accounting activities.
Set up a sophisticated, detailed cost structure for each operation in the process routing of each product including purchased materials, ingredients and components. You can apply the cost structure to inventory at any point in time to obtain valuation based on any cost model. Analyze costs using reports such as cost of goods sold, purchase price variance and standard cost activity.
Advanced Standard Costing
- A wizard guides you through a series of screens, reports, questions and calculations to configure, automate and manage full-absorption standard costing.
- Manage, analyze and compare multiple concurrent cost models
- This complete set of tools and reports for performing standard costing includes: Cost of goods sold (COGS)
- Cost of goods received (COGR) Purchase price variance Report (PPV) of Standard Costing Activity (SCAR)
- Define and configure cost types (labor, material, overhead, etc.) and subtypes (setup labor, production labor, etc.) that are used throughout the system
- Required for all costing methods and to configure labor activity tracking
Inventory Valuation – Standard Cost
- See current standard inventory valuation, or valuation at any historical point in time; this is particularly useful for accounting month-end closing activity
- Analyze all activities that affect standard inventory valuation, such as receipts, production, scrap, shipments and manual adjustments, in extremely granular detail or high-level summarization, as desired
- Easily view changes in valuation between any two points in time
- Requires Cost Setup, Part Cost Structure and Advanced Parts Traceability & Product Genealogy
Part Cost Structure
- Set up a detailed sophisticated cost structure for each operation in the process routing of each product including purchased materials, ingredients and components
- Define each operation-level cost as a combination of cost components such as source material, prior operation costs, labor, material, overhead, packaging, etc.
- Enter values for each cost component manually or have the system calculate them automatically based on user-defined formulae which draw on data from elsewhere in the system, such as standard production, labor, workcenter and other costs
- Define multiple cost models
- Apply security to protect cost models from unauthorized access
- Includes a detailed change history