How do I get the unit cost of a part to populate in the unit cost field when I am adding the part to BOM portion of the MOM in the engineering workbench or on the manufacturing sheet portion of the quote?
I know that if I go into the cost adjustment module. I can add the standard cost and then it will populate, but is the cost adjustment module where we have maintain our cost for each part in order for it populate the unit cost field in the engineering workbench or on the manufacturing sheet portion of the quote? This would be for a purchased part
If you use STD costing, you’d need to set the cost of purchased parts, and then do a cost roll-up of manufactured parts for them to be calculated as the sum of the components.
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Is " Cost Adjustment" the location where we’re supposed to set cost of the purchased part?
Cost adjustment will let you manually change the costs (emphasis on that being plural) on file for a specific part.
There are multiple cost methods (AVG, STD, LAST, FIFO, etc…), and each method has multiple facets (Materials, Burden, Labor, Sub-contract…)
The “cost” of a part in the system is the sum of the facets(Mtl, Bur, labor, etc…) of the method specified in the PartPlant table.
If a part uses cost method AVG or LAST, its cost on file can change with every transaction.
STD costing says that you are locking in the cost, and any difference (loss or gain) will be realized as a variance. For example, if you have a purchased part that has a standard cost of $1.25, and you purchase more at $1.50, the cost will stay the same $1.25, but you’ll have a purchase variance to account for the extra $0.25 for each of the qty received.
Yes, but only for Standard Cost as Calvin mentions.
Thanks Guys…as always…You’ve been a tremendous help!!!