Product Costing

This module maintains product cost data for all raw materials, parts, subassemblies, and end items either produced or purchased. An unlimited number of cost elements can be defined for each item. The module maintains material, labor, and overhead costs in forms such as standard, current, simulated, and, in some environments, moving average costs. Product costs can be reported as standard costs, moving average, or as actual/standard if job control is invoked. Accounting personnel use these costs to evaluate price and profit margins, established budgets to measure performance, identify variances, develop plans for future operations, and perform "what-if" analysis on product costs. The standard labor and overhead rates from the work centers are maintained by the Manufacturing Engineering module.

Inventory Accounting

This module accounts for changes in inventory balances and records the costs of inventory adjustments and shrinkages. Flexibility is provided for accounting period closings and for printing a wide selection of reports. You can begin to enter transactions for a fiscal period before performing period-end processing for the preceding period, as all transaction processing is date driven. Even if period-end processing for period A is performed in the middle of period B, only transactions applying to period A are costed. Inventory Accounting provides data directly to the General Ledger module.

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