If you’re using Standard Cost as the costing method for any of your Parts, then you need to perform a Cost Roll to establish the initial Standard Cost. You will then periodically update the standard cost to support your company’s accounting policies. To establish or update your Standard Costs you will perform the following series of processes:
Enter cost changes that you recognize are needed, through Cost Adjustment
Use Resource Group Maintenance to adjust the Labor and Burden Rates for operations performed on the Parts
Use the Costing Workbench to:
Select the top-level Parts for cost rollup
Load the related Cost Details for sub-assemblies, raw materials, burden rates and labor rates
Check for unapproved Part Revisions
Adjust the cost of Purchased Parts. as needed
Perform the Cost Rollup
Review the resulting Standard Costs
Print and post the cost adjustment resulting for your selected Parts
The financial experts at Allpoint Solutions can assist you to establish a Cost Roll process to address your company’s specific accounting and operational management needs.