Standard cost calculation

On this page, you can calculate the cost of finished items and subassembly items from their associated bill of material and routing, and update item-site costs with the new calculated costs.

You can export the results to an Excel or CSV file. The exported file can be uploaded to your accounting solution.

Run a standard cost calculation

To run a standard cost calculation, enter your selection criteria then select Calculate.

You can calculate your standard costs for the current date or for any date in the future. The calculations are based on either the component item standard costs or the cost for the valuation method defined on the component Item-site records, on the calculation date. Components costed at an average unit cost and those costed at a FIFO (first in, first out) cost are therefore included in the rolled up standard cost of the finished item. All costs are in the financial site currency.

The total component cost is calculated from the lowest level component in the list of components for the finished item, rolling up the costs through any subassembly components, to the top level component. Select the Include routing checkbox to include in the rolled up costs, resource and operation costs defined in the routing for the finished item and in the routings for any subassemblies.

If you have run a standard cost calculation previously, edit the selection criteria, then select Calculate.

After calculating the new standard costs, you can view a detailed cost breakdown for any subassemblies in the list of components for a finished item. From the More actions icon for a finished item, select Subassemblies.

Attributes and dimensions

You can add attributes and dimensions to manage business rules and to analyse and track the change in the item costs using analytical accounting data.

• To add attributes and dimensions as default values for all items in the results grid: From the grid, select Set default dimensions.
• To add attributes and dimensions to track individual items analytically: Select the More actions icon for the line then select Dimensions.

1. In the Dimensions window, enter or select the Project attribute name.

   If you do not want the change in the item costs to be included when project costs are analysed, leave blank.

2. Enter or select the Department dimension name.

   If you do not want the change in the item costs to be included when aggregating financial information by department, leave blank.

3. Enter or select the Channel dimension name.

   If you do not want the change in the item costs to be included when aggregating revenue by geographic area or by business type, for example, leave blank.

Export

When you export the standard cost calculation results grid, only those lines displayed in the search or filtered results are included in the export. This includes all lines across multiple pages if you have a large data set.

There are 2 export options: Excel or CSV. The default file name is resultLines.

After exporting the data, you can rename the file and edit the Excel spreadsheet or CSV file if needed before uploading to your accounting solution.

Update costs

To update item records with the new calculated costs, Select all lines in the results grid or select the individual items to update, then select Create item-site cost.

You can view the item-site cost revaluation details on the Stock value change page.

Bills of material (BOMs) are updated automatically on the date the new standard cost is effective.

Managing standard costs

You can create a job schedule to check for a stock value change if you calculate costs from future dates, such as for future periods.

You could specify that the schedule runs daily and creates and posts any new item-site costs if it determines there is stock on hand. You can view any revaluation details on the Stock value change page.