Direct Labor Applied

Yahoo Archive
1
Randall,
Something caught my eye here. You say that your "Labor
Rate" is the employee's hourly rate of pay adjusted fro overtime. Could
you explain that to me? I have been asked to include actual overtime
into a job, which I see no way of doing so. Maybe you have a solution
that would work for me.

Thanks

Rhonda Reilly
Information Resource Manager
Energy Cranes LLC.
985.893.1818
985.893.1879 fax

_____

From: Randy Lunsford [mailto:rlunsf@...]
Sent: Tuesday, January 20, 2004 8:38 AM
To: 'vantage@yahoogroups.com'
Subject: RE: [Vantage] Direct Labor Applied

Marilyn,
In Employee Maintenance, there is a field called "Labor Rate".
All
of your employees who post time to a job must have this rate set up to
post
to direct labor. The amount that is posted to direct labor is the
"Labor
Rate" times the direct labor hours posted to the job by that employee.
Our
"Labor Rate" is the employee's hourly rate of pay adjusted for overtime.

Randall Lunsford
Excel Machinery, Ltd.
e-mail: rlunsf@...
Phone: (806) 335-4565 ext. 531
Fax: (806) 335-9017

-----Original Message-----
From: Marilyn Fairchild [mailto:mfairchild@...]
Sent: Tuesday, January 20, 2004 8:19 AM
To: 'vantage@yahoogroups.com'
Subject: RE: [Vantage] Direct Labor Applied

Maybe this doesn't even make sense. The question as asked to me was "I
need
for you to check the formula that calculates the direct labor applied
(g/l
account #xxxx-xx-xxx). After you get this, I would like to sit down
with
you so I can be sure that I understand it."
This was put to me by our new CFO, and I don't have a clue. Maybe what
is
being asked is not really what is needed, but after trying to figure out
something I don't seem to be catching on to, I thought I'd see if this
made
sense to any accounting people out there.

Marilyn


-----Original Message-----
From: Geary, Stephanie [mailto:sgeary@...]
Sent: Tuesday, January 20, 2004 7:33 AM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Direct Labor Applied

I am not sure what you are asking... formula for direct labor applied?

-----Original Message-----
From: Marilyn Fairchild [mailto:mfairchild@...]
Sent: Monday, January 19, 2004 3:31 PM
To: 'vantage@yahoogroups.com'
Subject: [Vantage] Direct Labor Applied



Hi all,
I have been asked by our accounting people what the formula is for
Direct
Labor Applied as it appears in the specified G/L account. I'm not the
accountant type, so it's not an obvious thing to me. Can anyone help
with
this?

Thanks in advance for any help anyone might have.

Marilyn Fairchild
Pickwick Manufacturing Services
Vantage 5.0



[Non-text portions of this message have been removed]



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[Non-text portions of this message have been removed]
2
Hi all,
I have been asked by our accounting people what the formula is for Direct
Labor Applied as it appears in the specified G/L account. I'm not the
accountant type, so it's not an obvious thing to me. Can anyone help with
this?

Thanks in advance for any help anyone might have.

Marilyn Fairchild
Pickwick Manufacturing Services
Vantage 5.0



[Non-text portions of this message have been removed]
3
I am not sure what you are asking... formula for direct labor applied?

-----Original Message-----
From: Marilyn Fairchild [mailto:mfairchild@...]
Sent: Monday, January 19, 2004 3:31 PM
To: 'vantage@yahoogroups.com'
Subject: [Vantage] Direct Labor Applied



Hi all,
I have been asked by our accounting people what the formula is for Direct
Labor Applied as it appears in the specified G/L account. I'm not the
accountant type, so it's not an obvious thing to me. Can anyone help with
this?

Thanks in advance for any help anyone might have.

Marilyn Fairchild
Pickwick Manufacturing Services
Vantage 5.0



[Non-text portions of this message have been removed]



Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must have already linked your email address to a yahoo id to enable access. )
(1) To access the Files Section of our Yahoo!Group for Report Builder and Crystal Reports and other 'goodies', please goto: http://groups.yahoo.com/group/vantage/files/.
(2) To search through old msg's goto: http://groups.yahoo.com/group/vantage/messages
(3) To view links to Vendors that provide Vantage services goto: http://groups.yahoo.com/group/vantage/links



_____

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[Non-text portions of this message have been removed]
4
Maybe this doesn't even make sense. The question as asked to me was "I need
for you to check the formula that calculates the direct labor applied (g/l
account #xxxx-xx-xxx). After you get this, I would like to sit down with
you so I can be sure that I understand it."
This was put to me by our new CFO, and I don't have a clue. Maybe what is
being asked is not really what is needed, but after trying to figure out
something I don't seem to be catching on to, I thought I'd see if this made
sense to any accounting people out there.

Marilyn


-----Original Message-----
From: Geary, Stephanie [mailto:sgeary@...]
Sent: Tuesday, January 20, 2004 7:33 AM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Direct Labor Applied

I am not sure what you are asking... formula for direct labor applied?

-----Original Message-----
From: Marilyn Fairchild [mailto:mfairchild@...]
Sent: Monday, January 19, 2004 3:31 PM
To: 'vantage@yahoogroups.com'
Subject: [Vantage] Direct Labor Applied



Hi all,
I have been asked by our accounting people what the formula is for Direct
Labor Applied as it appears in the specified G/L account. I'm not the
accountant type, so it's not an obvious thing to me. Can anyone help with
this?

Thanks in advance for any help anyone might have.

Marilyn Fairchild
Pickwick Manufacturing Services
Vantage 5.0



[Non-text portions of this message have been removed]



Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must have
already linked your email address to a yahoo id to enable access. )
(1) To access the Files Section of our Yahoo!Group for Report Builder and
Crystal Reports and other 'goodies', please goto:
http://groups.yahoo.com/group/vantage/files/.
<http://groups.yahoo.com/group/vantage/files/>
(2) To search through old msg's goto:
http://groups.yahoo.com/group/vantage/messages
<http://groups.yahoo.com/group/vantage/messages>
(3) To view links to Vendors that provide Vantage services goto:
http://groups.yahoo.com/group/vantage/links
<http://groups.yahoo.com/group/vantage/links>



_____

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Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must have
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5
Hi Marilyn,

Classically, Applied Labor is that labor which can
be seen to have gone from WIP to Finished Goods inventory
embedded in the costs of finished goods.

From Vantage Help:

"Applied Labor

The Applied Labor account tracks direct Labor transactions
related to a job. This account is the offset to the Labor
WIP account on the Journal Entry that the system creates
for these transactions."

Vantage calculates the costs of labor in a batch of parts
in accordance with the way you set it up when you first
implement the system.

If you selected Standard Costing, your labor costs will be
applied in accordance with the labor cost parameter you set
for each of the operation types.

If you selected average costing, the labor costs will be from
the labor rate you set for each employee who charges the job.

As the job moves through its operations it accumulates costs.
These costs increase the value of WIP all during the processing
of the parts, then, when the parts are finished and received
into inventory, the costs which had been in WIP become "Applied".

When you Creit WIP Labor by reducing the value of WIP labor,
you Debit Applied Labor.

If your accounting folks are looking to reconcile Labor costs as
applied in Vantage with Labor costs as shown in a payroll calculation
of some sort, they will have to know a lot about how your setup
of Vantage is working. We had to write reports showing the flow of
labor into and out of finished goods in order to perform that
reconciliation.

I think what I have told you above is the meat of the issue. All the
accounting folks out there should correct me if I have it wrong somewhere.

Mike






-----Original Message-----
From: Marilyn Fairchild [mailto:mfairchild@...]
Sent: Monday, January 19, 2004 3:31 PM
To: 'vantage@yahoogroups.com'
Subject: [Vantage] Direct Labor Applied



Hi all,
I have been asked by our accounting people what the formula is for Direct
Labor Applied as it appears in the specified G/L account. I'm not the
accountant type, so it's not an obvious thing to me. Can anyone help with
this?

Thanks in advance for any help anyone might have.

Marilyn Fairchild
Pickwick Manufacturing Services
Vantage 5.0



[Non-text portions of this message have been removed]


Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must have
already linked your email address to a yahoo id to enable access. )
(1) To access the Files Section of our Yahoo!Group for Report Builder and
Crystal Reports and other 'goodies', please goto:
http://groups.yahoo.com/group/vantage/files/.
(2) To search through old msg's goto:
http://groups.yahoo.com/group/vantage/messages
(3) To view links to Vendors that provide Vantage services goto:
http://groups.yahoo.com/group/vantage/links

Yahoo! Groups Links

To visit your group on the web, go to:
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6
Marilyn,
In Employee Maintenance, there is a field called "Labor Rate". All
of your employees who post time to a job must have this rate set up to post
to direct labor. The amount that is posted to direct labor is the "Labor
Rate" times the direct labor hours posted to the job by that employee. Our
"Labor Rate" is the employee's hourly rate of pay adjusted for overtime.

Randall Lunsford
Excel Machinery, Ltd.
e-mail: rlunsf@...
Phone: (806) 335-4565 ext. 531
Fax: (806) 335-9017

-----Original Message-----
From: Marilyn Fairchild [mailto:mfairchild@...]
Sent: Tuesday, January 20, 2004 8:19 AM
To: 'vantage@yahoogroups.com'
Subject: RE: [Vantage] Direct Labor Applied

Maybe this doesn't even make sense. The question as asked to me was "I need
for you to check the formula that calculates the direct labor applied (g/l
account #xxxx-xx-xxx). After you get this, I would like to sit down with
you so I can be sure that I understand it."
This was put to me by our new CFO, and I don't have a clue. Maybe what is
being asked is not really what is needed, but after trying to figure out
something I don't seem to be catching on to, I thought I'd see if this made
sense to any accounting people out there.

Marilyn


-----Original Message-----
From: Geary, Stephanie [mailto:sgeary@...]
Sent: Tuesday, January 20, 2004 7:33 AM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Direct Labor Applied

I am not sure what you are asking... formula for direct labor applied?

-----Original Message-----
From: Marilyn Fairchild [mailto:mfairchild@...]
Sent: Monday, January 19, 2004 3:31 PM
To: 'vantage@yahoogroups.com'
Subject: [Vantage] Direct Labor Applied



Hi all,
I have been asked by our accounting people what the formula is for Direct
Labor Applied as it appears in the specified G/L account. I'm not the
accountant type, so it's not an obvious thing to me. Can anyone help with
this?

Thanks in advance for any help anyone might have.

Marilyn Fairchild
Pickwick Manufacturing Services
Vantage 5.0



[Non-text portions of this message have been removed]



Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must have
already linked your email address to a yahoo id to enable access. )
(1) To access the Files Section of our Yahoo!Group for Report Builder and
Crystal Reports and other 'goodies', please goto:
http://groups.yahoo.com/group/vantage/files/.
<http://groups.yahoo.com/group/vantage/files/>
(2) To search through old msg's goto:
http://groups.yahoo.com/group/vantage/messages
<http://groups.yahoo.com/group/vantage/messages>
(3) To view links to Vendors that provide Vantage services goto:
http://groups.yahoo.com/group/vantage/links
<http://groups.yahoo.com/group/vantage/links>



_____

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Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must have
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(1) To access the Files Section of our Yahoo!Group for Report Builder and
Crystal Reports and other 'goodies', please goto:
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Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must have
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(1) To access the Files Section of our Yahoo!Group for Report Builder and
Crystal Reports and other 'goodies', please goto:
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7
Thank you so much for the replies about Direct Labor - I'll pass that on to
our CFO and see if that answers his question satisfactorily.

Marilyn


[Non-text portions of this message have been removed]