How to set up the cost to a new Manufacture part

Epicor ERP 10
,
1

New to Epicor, need a way to set up the cost on a new part
We have try to go to a different areas and no results
need to know where to go to set the cost, engineering express part checkout or cost adjustment

2

The cost of the manufactured part will be captured when you create a job, complete all operations, assign all material then do a job receipt to inventory. If you want to see what a rough cost will be (we are average cost so rough means can change over time) the use the BOM cost report.

3

The answer to your question depends on the COSTING METHOD that you have chosen. The first three most common are:

  • Standard Cost: You can do a cost rollup in the Costing Workbench
  • Average Cost: Setting the cost is automatic. The first receipt (from PO or JOB) will set the cost.
  • Lot Cost: Same as Average.
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4

Right, if done with the receipt last, which would be preferred. If you receive and then charge more time or material, you’d get a variance, right? And the average cost would stay unaffected at the lower number, right?

Sorry, we use standard and some last cost (no average), but standard and last both do the variance thing.

5

Costing Workbench This will rollup costs such as material and labor/burden. If the material is not rec’d yet, it wont have a cost. so you can edit it in CW temporary or do cost adjustments for the parts before CW.

6

Is Costing Workbench just for standard cost though? As we’re average cost we dont use it (should we?)

7

That would be an accounting/finance question, cost accountant. We use MFG = STD and Pur = AVG

I dont now how the system will react when your Mfg part is set to Avg and it is recd to inventory. Or if your Mfg part is make direct to the Sales ORder.

8

We seem to be the only company that uses FIFO we have been looking at changing to avg or standard. What are the implications?

9

A few years ago we changed some of raw materials from FIFO to lot average. To do that.

10

A few years ago we changed some of raw materials from FIFO to lot average. To do that.

  1. Reduce quantities to zero using Quantity Adjustment. (Make note of quantity since it will be added back)
  2. Change the Cost method in Part Entry.
  3. Enter the Average cost (Lot Average in our case) in Cost Adjustment for all the parts.
  4. Do Quantity adjustment again to add the quantity removed in Step 1 above.

The difference in cost between FIFO and Average will show up in the GL attached to the reason code of Inventory Adjustments.

1 Like
11

Hello Miguel,

Thank You so much for your assistance.

The video you include in this email was helpful. I follow all the steps on the video, but when

I do a job none of the cost of the new parts print on the job. We are set up to use FIFO as a cost method. I set all part to FIFO and all show FIFO. This attached is our cost adjustment, could you please help me, and could you tell me how can I get the cost on AVERAGE/LOT AND STANDARD to show on the last column On FIFO AVG/LOT. I think that this is

What is preventing the cost to show on our job.

Thank you so much for your help.

Best Regards,

Betsy DĂ­az

520 Cypress Avenue

Venice, FL 34285

941-412-9963

Betsy.Diaz@emcee-electronics.com

NQA_ISO9001_CMYK

ISO #9001:15 â—Ź ISO/IEC #17025

ISO/IEC #80079

Cost Adjustment.docx (131 KB)

12

Are there costs on FIFO cost buckets.

13

We thought we had all the part information in and costs but when you print the production detail for the job amounts are on estimate but not in actual What are we missing?