Overview
In a standard cost configuration, each item will have a standard cost. The cost of an item is by division. The same item may have a different standard cost in different divisions.
This record holds cost update options and 7 tabs. 1 Tab holding cost parameters and 6 containing item's cost elements.
The values in the tabs Cumulative Standard and Single Level Standard are the standard cost of the item. The tabs Cumulative Simulated and Single Level Simulated hold the simulated costs for the item. The Cumulative HIstorical and Single Level Historical is the standard cost used prior to now in effect Cumulative Standard and Single Level Standard.
Application
In a standard cost division, the item’s standard cost for transactions is sourced from this record and Cumulative Standard Standard Total.
Navigation
Inventory Item Standard Cost
Fields
Division: The division identifier.
Item Number: The item number.
Item Description: The description of the item.
Material Cost Update Option: Determines the method of updating the Inventory Item Std Cost > Cost Rollup Parameters > Simulated Purchase Price
- Manual Entry
- Copy from PO History
Simulated Cost Update Option: Determines the method of setting the Simulated Costs.
- Manual Entry
- Calculated During Rollup
Sim to Std Cost Update Option: Identifies method used to move simulated costs to standard costs.
- Manual Entry
- Automatic
- Exclude
Sim to Std Run Date: The most recent date on which Standards cost elements were set from Simulated cost elements.
Effective Date: The effective date of the BOM and Routing that was entered for the most recent cost rollup for the item.
Rollup Date: The date of the cost rollup that was used to set the simulated costs.
Inventory UOM: Defaults from the Inventory Item Master.
Source: Manufactured, Purchased, Subcontract. Defaults from the Inventory Item Master.
Navigation
Inventory Item Standard Cost
Cost Rollup Parameters Tab
Fields
Default Labor (if no Routing): Holds the value of labor when routing is not defined for the item.
Standard Order Quantity: Standard work order size and is used to calculate a per-unit setup cost when the routing operation set is used and the setup time type is set to batch.
Simulated Purchase Price: Value used in the simulated cost rollup function. If the item source is purchased it is the material cost. If the item source is subcontract it is the subcontract labor cost.
Cumulative Standard Tab
Fields
Standard Material: Cumulative standard unit cost of the material.
Standard Labor: Cumulative standard unit cost of labor.
Standard Material Ohd: Cumulative standard unit cost of material overhead.
Standard Labor Ohd: Cumulative standard unit cost of labor overhead.
Standard Fringe Ohd: Cumulative standard unit cost of fringe overhead.
Standard Machine Ohd: Cumulative standard unit cost of machine overhead.
Standard Subcontract Material: Cumulative standard unit cost of subcontract materials.
Standard Outside Labor: Cumulative standard unit cost of outside.
NOTE When the Freight and Landed Cost application is enabled:
Standard Freight: Cumulative standard unit freight cost.
Standard Oth Landed: Cumulative standard other landed cost.
Standard Total: Total unit cost of all standard cost elements.
Cumulative Simulated Tab
Fields
Simulated Material: Cumulative simulated unit cost of the material.
Simulated Labor: Cumulative simulated unit cost of labor.
Simulated Material Ohd: Cumulative simulated unit cost of material overhead.
Simulated Labor Ohd: Cumulative simulated unit cost of labor overhead.
Simulated Fringe Ohd: Cumulative simulated unit cost of fringe overhead.
Simulated Machine Ohd: Cumulative simulated unit cost of machine overhead.
Simulated Subcontract Material: Cumulative simulated unit cost of subcontract materials.
Simulated Outside Labor: Cumulative simulated unit cost of outside.
NOTE When the Freight and Landed Cost application is enabled:
Simulated Freight: Cumulative simulated unit freight cost.
Simulated Other Landed: Cumulative simulated other landed cost.
Simulated Total: Total unit cost of all simulated cost elements.
NOTE When the value of the field Simulated Cost Update Option is set to 'Manual Entry',
- If the Source is 'Manufactured' or 'Subcontract', then all the fields except 'Simulated Total' are enabled to edit.
- If the Source is 'Purchased', then the fields 'Simulated Material', 'Simulated Material Ohd', 'Simulated Freight', 'Simulated Other Landed' are enabled to edit.
Cumulative Historical Tab
Fields
Historical Material: Cumulative historical unit cost of the material.
Historical Labor: Cumulative historical unit cost of labor.
Historical Material Ohd: Cumulative historical unit cost of material overhead.
Historical Labor Ohd: Cumulative historical unit cost of labor overhead.
Historical Fringe Ohd: Cumulative historical unit cost of fringe overhead.
Historical Machine Ohd: Cumulative historical unit cost of machine overhead.
Historical Subcontract Material: Cumulative historical unit cost of subcontract materials.
Historical Outside Labor: Cumulative historical unit cost of outside.
NOTE When the Freight and Landed Cost application is enabled:
Historical Freight: Cumulative historical unit freight cost.
Historical Other Landed: Cumulative historical unit other landed cost.
Historical Total: Total unit cost of all historical cost elements.
Historical Standard Set Date: The date the historical cost elements were set from the standard cost elements.
Single Level Standard Tab
Fields
Standard SL Material: Single level standard unit cost of the material.
Standard SL Labor: Single level standard unit cost of labor.
Standard SL Material Ohd: Single level standard unit cost of material overhead.
Standard SL Labor Ohd: Single level unit standard cost of labor overhead.
Standard SL Fringe Ohd: Single level unit standard cost of fringe overhead.
Standard SL Machine Ohd: Single level standard unit cost of machine overhead.
Standard SL Subcontract Material: Single level standard unit cost of subcontract material.
NOTE When the Freight and Landed Cost application is enabled:
Standard SL Freight: Standard SL unit freight cost.
Standard SL Other Landed: Standard SL unit other landed cost.
Standard SL Outside Labor: Single level unit cost of outside labor.
Single Level Simulated Tab
Fields
Simulated SL Material: Single level simulated unit cost of the material.
Simulated SL Labor: Single level simulated unit cost of labor.
Simulated SL Material Ohd: Single level simulated unit cost of material overhead.
Simulated SL Labor Ohd: Single level simulated unit cost of labor overhead.
Simulated SL Fringe Ohd: Single level simulated unit cost of fringe overhead.
Simulated SL Machine Ohd: Single level simulated unit cost of machine overhead.
Simulated SL Subcontract Material: Single level simulated unit cost of subcontract material.
Simulated SL Outside Labor: Single level simulated unit cost of outside labor.
NOTE When the Freight and Landed Cost application is enabled:
Simulated SL Freight: This is the cumulative simulated unit cost of Landed Cost Freight. Landed Cost Freight cost is the price paid to a Vendor for freight, which is apportioned to the inventory item's cost.
Simulated SL Other Landed: Simulated SL unit other landed cost.
NOTE
- When the value of the field Source is 'Manufactured', then the fields 'Simulated SL Labor', 'Simulated SL Labor Ohd', 'Simulated SL Fringe Ohd', 'Simulated SL Machine Ohd', 'Simulated SL Outside Labor' are enabled to edit.
- If the Source is 'Purchased', then the fields 'Simulated SL Material Overhead', 'Simulated SL Freight', 'Simulated SL Other Landed' are enabled to edit.
- If the Source is 'Subcontract', then the fields 'Simulated SL Material Overhead', 'Simulated SL Subcontract Material', 'Simulated SL Freight', 'Simulated SL Other Landed' are enabled to edit.
Single Level Historical Tab
Fields
Historical SL Material: Single level historical unit cost of the material.
Historical SL Labor: Single level historical unit cost of labor.
Historical SL Material Ohd: Single level historical unit cost of material overhead.
Historical SL Labor Ohd: Single level historical unit cost of labor overhead.
Historical SL Fringe Ohd: Single level historical unit cost of fringe overhead.
Historical SL Machine Ohd: Single level historical unit cost of machine overhead.
Historical SL Subcontract Material: Single level historical unit cost of subcontract material.
Historical SL Outside Labor: Single level historical unit cost of outside labor.
NOTE When the Freight and Landed Cost application is enabled:
Historical SL Freight: Historical Standard SL unit freight cost.
Historical SL Other Landed: Historical SL unit other landed cost.
SEE ALSO
Inventory Item Master
Division Master
Manufacturing Department
Routing Master
Routing Operations
Manufacturing Labor Grades
Manufacturing Machine Master
Purchase Item Cost
Derive Purchase Mtl Costs from PO Activity
Set Sim Purchase Price From PO Derived Costs
Generate-Apply Simulated Rollup Costs
Set Standard Costs from Simulated
