The product costing module values existing inventories, tracks work-in-process and builds product costs. Product costs are developed using bill of material, routing and work centre information. Material, labour, overhead, scrap and purchased services can be separately identified.
Cost comparisons for different products or different versions of the same product can be viewed side by side.
Last year’s cost is kept for history, frozen standard for reporting and budgeting, current standard is used from performance measurement, average actual costs provide a sanity check, and simulated costs are used for forecasting and planning the next frozen cost.
- Actual and standard cost processing
- Interactive cost simulations
- Raw material, finished goods and WIP costing
- Double costed inventory reports
- Detailed item cost comparison
- Product cost worksheets
- Frozen, current, simulated, and average actual costs
- Cost breakdown by M-L-O, Purchased services & Scrap
- Accounting defined cost rollup criteria