Production Costing

  • Real time data collection
  • Produces shop Supports three simultaneous costing methods:
    • Standard
    • Average
    • Last
  • Supports six cost components for each cost method:
    • Material
    • Labor
    • Outplant
    • Fixed Burden
    • Variable Burden
    • Material Burden
  • Tracks cost by work order including material labor, burden,and outplant
  • Show part costs by routing sequence (audit showing how costs were calculated)
  • Incremental cost increases displayed by routing sequence
  • Allows recording of labor at actual or standard cost
  • Calculates and posts to general ledger the work order variances for material, labor, burden, and outplant
  • Daily and monthly production reports showing units, dollars and actual efficiencies
  • Stores month-end quantity and value of inventory for delayed reporting
  • Variances to GL by plant or part
  • Historical averages by part or by operation
  • Rolls up labor, burden and outplant costs from routings for calculation of parts costs
  • Allows manual maintenance of routing costs
  • Calculates material costs using the bill of material and adds routing costs to update part cost fields
  • Accepts changes to part accounting value and records general ledger transactions for inventory value change
  • Reports work-in-process value
  • Summary of Work in Process receipts for a work order broken out by cost component (material, labor, overheads, etc.) for the total production quantity and costs per unit
  • Supports closing a work order short
  • List summary of closed work orders showing all variances and the GL accounts they were posted to
  • Financial closing data for all cost components, showing actual, standard, closing and variance
  • Updates average and last costs for work orders
  • Optional audit reports to show in detail how costs were calculated
  • Shows value of product at standard at each operation step (used to determine cost of scrap, rework, etc.)
  • Costing Worksheets