IN-L-A  Enter Standard Costs

Purpose of Program

Use this program to maintain or view standard costs on inventory items.

Field Explanations

Part No

The item number for the item as set up in the inventory file.

Desc

The description displays automatically when the item number is entered. You may not edit this field within this program.

Lot Size

The typical production run (in units) for this item.  The Lot Size is used to establish an estimated per unit cost for Setup.

Type

The inventory type of the item.  This field is for information only and cannot be edited by the user.

Last Cost

This field is automatically maintained by the system and represents either the last purchase or manufactured cost of the item.  This field is for information only and cannot be edited by the user.

Average Cost

This field is automatically maintained by the system and is recalculated each time there is an inventory transaction. This field is for information only and cannot be edited by the user.  If your costing default in SD-H  Inventory Defaults is set for average costing, Average Cost is calculated on a running (weighted) average basis.  If your costing default in is set for either FIFO or LIFO costing, each time an inventory transaction occurs the Average Cost is recalculated using the following formula: each cost bucket's unit cost is extended by its quantity, then all the extended cost totals are added up and divided by the total number of units on hand.

Stock UM

The stocking unit of measure, for reference only.  Standard costs are expressed in the stocking unit of measure.

This Level Cost

Standard costs are only entered in the "This Level Costs" column on the left side of the screen. "Rolled-up Costs" on the right hand side are for reference purposes and are calculated by the cost rollups.

If you are using Routings for labor costing, the only costs you will enter in this program are for Material, Duty and Freight on your purchased materials and Outside Processing and Freight for Make-From (Type M) items.  All other costs (labor, setup, outside processing, overhead) are maintained in your routings and will be calculated up through all levels of the product structure by the cost rollup.

If you are using Labor item numbers for labor costing, you will not only use this program to maintain costs for Material and Freight on your purchased materials, but you will also enter Labor, Setup, and Overhead on your type L (labor) item numbers.  If you use type T or M parts for outside processing, you will enter Outside Processing costs on your type T (outside processing)  and M (Make From) item numbers.

Material

This field is for type R (purchased items) only.  The program will not allow you to enter a value for other type items.

Freight

This field is for type R (purchased items) and type M (Make-From)only.  If you wish to separately account for a freight factor rather than build the freight into the material cost, you may use this field.

Labor

This field is only for type L (labor) item numbers and is where the labor rate is maintained that will be used within bills of material.

Setup

This field is only for type L (labor) items numbers and is where a setup rate can be maintained that will be used within bills of material.

Outside Proc

This field is only for type T (outside processing) and type M (make-from)  items and is where the outside processing cost can be maintained that will be used within bills of material.

Fixed Overhead

This field is only for type L (labor) item numbers and is where the fixed overhead rate per unit of labor is maintained that will be used within bills of material.

Var Overhead

This field is only for type L (labor) item numbers and is where the variable overhead rate per unit of labor is maintained that will be used within bills of material.

ROLLED-UP COSTS

Material and Freight

The rolled up cost of all material and freight in this level and all lower levels of the product structure.  This field is calculated by BM-G  Print/Rollup Standard Costs or via the Cost Rollup button from this screen and cannot be edited by the user.

Labor

The rolled up cost of all labor in this level and all lower levels of the product structure.  This field is calculated by BM-G  Print/Rollup Standard Costs or via the Cost Rollup button from this screen and cannot be edited by the user.

Setup

The rolled up cost of all setup in this level and all lower levels of the product structure.  This field is calculated by BM-G  Print/Rollup Standard Costs or via the Cost Rollup button from this screen and cannot be edited by the user..

Outside Proc

The rolled up cost of all outside processing in this level and all lower levels of the product structure.  This field is calculated by BM-G  Print/Rollup Standard Costs or via the Cost Rollup button from this screen and cannot be edited by the user.

Fixed Overhead

The rolled up cost of all fixed overhead in this level and all lower levels of the product structure.  This field is calculated by BM-G  Print/Rollup Standard Costs or via the Cost Rollup button from this screen and cannot be edited by the user.

Var Overhead

The rolled up cost of all variable overhead in this level and all lower levels of the product structure.   This field is calculated by BM-G  Print/Rollup Standard Costs  or via the Cost Rollup button from this screen and cannot be edited by the user.

Total Standard Cost

The grand total of all the rolled up costs, which establishes the total standard cost for the item.  This field is calculated by BM-G  Print/Rollup Standard Costs or via the Cost Rollup button from this screen and cannot be edited by the user.

General Program Operation

To find an existing inventory record, enter the full item number or use the standard record search keys or buttons.  You can select an inventory item by clicking on the Lookup button (or press F2).

Once the record has been retrieved, advance the cursor through all the fields and make any desired changes or additions to your standard costs for this inventory record.  Depending on the item type being entered, you will be restricted from access to fields that don't apply to that type item.

If you make changes to any costs, upon saving the record you will be asked if you want the total standard cost updated.  If you indicate yes, the program will run a cost rollup on the item.

If you have a type F, A, or B item on the screen, you can run a cost rollup on it and its related subassemblies and components by clicking the Cost Rollup button.

To run a cost rollup on a range of items, go to BM-G  Print/Rollup Standard Costs. For more information on using standard costs, see How to Use Standard Costs.