Standard Product Costing is an interactive, comprehensive tool, providing "what if" analysis ability, that accurately maintains standard or estimated costs for management planning.

Product Capabilities

• Maintains beginning-of-the-year standard cost projections and current costs
• Separates standard and current costs into material, labor, fixed and variable burden, and two user-defined costs
• Supports value-added costs at each level of the bill of material and accumulates costs from lower levels
• Calculates labor for each operation on each item when linked to Standard Product Routing
• Provides costed bill of material reports in single level, indented, and summarized formats
• Facilitates "what if" cost analysis for comparing standard costs with estimated costs by allowing the downloading of inventory last costs and the use of two user-definable costing fields
• Provides critical ratios such as gross margin percentages and cost variances
• Allows the posting of standard costs to the item master files
• Handles multiple departments and work centers

Application Details

• Routing Cost Build Up calculates current value added labor and burden costs for part routings.
• Cost Tables are user-defined and integrated with the Job Costing module
• When integrated with My ERP's Accounts Payable, Purchase Order & Receiving, and key production packages, management can use "what if" planning to compare actual costs, planned purchase costs, and standard costs.
• When integrated with My ERP's Bill of Materials and Standard Product Routing, labor, material, and burden cost build-up can be calculated.

Reports

• The Cost Listing Report shows material, labor, fixed and variable burden rates, man-hours, and total costs for any range of item numbers.
• Missing or Zero Costs Report shows items without a cost record and those items whose combined material, labor, and burden values add up to zero.
• The Standard vs. Current Variance Report allows management to track the change of current costs from the standard, giving visibility to purchase manufacturing cost variances.
• The Cost of Sales Report determines the cost of goods sold and the gross profit margin.
• The Cost of Inventory Report identifies the cost of inventory remaining in stock.
• The Purchase Price Variance Report identifies instances of when material costs exceed the current or standard cost by a specified percentage.
• Additional reports are available, as well as the capability to create and customize individual reports.

Security

• My ERP's Standard Product Costing is fully integrated with the standard  My ERP security application.  User passwords will provide controlled access to the Standard Product Costing module.

System Integration

• Standard Product Costing requires My ERP's Inventory Management module. Integration with the My ERP's Bill of Materials and Standard Product Routing modules is highly recommended.