Set Standard Costs from Simulated

Overview

In a standard cost division configuration, it is the Inventory Item Std Cost’s Cumulative Standard cost that is the source for the item’s standard cost for all transactions and is the cost used for the Inventory Valuation.

Application

This program performs multiple functions about standard costing.

• It moves the item’s Cumulative Standard (Costs) to the Cumulative Historical (Cost)
• It moves the item's Single Level Standard (Cost) to the Single Level Historical (Cost)
• It moves the item's Cumulative Simulated (Costs) to the Cumulative Standard (Cost)
• It moves the item's Single Level Simulated (Cost) to the Single Level Standard (Cost)
• It revalues on-hand Inventory multiplying the new standard cost minus the historical standard cost times the on hand inventory quantity.

It updates or populates the following fields on the item's Inventory Item Std cost record

• Sim to Std Roll Date
• Effective Date
• Rollup Date

When the following record field is set to Copy from Simulated, the program moves the Simulated field values to the Standard fields and populates or updates the "Sim to Std Roll Date" with the date the new standards are set.

• Manufacturing Department > Labor Ohd Option = Copy from Simulated
• Manufacturing Department > Fringe Ohd Option = Copy from Simulated
• Manufacturing Labor Grade > Hourly Rate Option = Copy from Simulated
• Manufacturing Machine Master > Hourly Rate Option = Copy from Simulated
• Routing Operations Setup Time > Setup Std Option = Copy from Simulated
• Routing Operation Run Time > Run Std Option = Copy from Simulated
• Routing Operation Machine Time > Machine Std Option = Copy from Simulated

Controlling which item have new standard costs set (Inventory Item Std Cost record)

On the "Inventory Item Std Cost" record the field "Sim to Std Cost Update Options" controls the updating of the item's standard costs with new standard costs when the "Set Standard Costs from Simulated" function is selected.  

• Automatic:  When this option is set on "Inventory Item Std Cost" records when the "Set Standard Costs from Simulated" is run with the Txn Type = A-Automatic, only Items with the "Sim to Std Cost Update Option" set to Automatic will have a new standard set. 
• Exclude:  When this option is set on "Inventory Item Std Cost" records, no matter the  Txn Type selected on the "Set Standard Costs from Simulated" page, the item's standard cost is not updated. 
• Manual: When this option is set on "Inventory Item Std Cost" records when the "Set Standard Costs from Simulated" is run with the Txn Type = M-Manual, only these items will have a new standard cost set.  

Navigation

Set Standard Costs from Simulated

Process

• A=Automatic: New standard are set for all with the Inventory Item Std Cost > Sim to Std Cost Update Option set to Automatic. Items which are set to M=Manual or Exclude are not updated.
• M=Manual: The standard costs are updated for Items with Inventory Item Std Cost > Sim to Std Cost Update Option set to Manual.  Item set to Automatic and Exclude are not updated.