WIP Standard Vs Actual Costing

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jasmine.hue
Posts: 42
Joined: Mon Aug 11, 2008 3:20 am
Location: Malaysia

WIP Standard Vs Actual Costing

Post by jasmine.hue »

Hi,

I am running on FIFO costing. I have questions on how to compare my standard bom cost with my actual production cost.
Scenario:
I have standard BOM and routing.

Resource A rate 10 per hr by item basis and set as manual charge type, standard routing set require 1 hr per production build.

When runs production, actual process time actually taken 2hrs. I actually update system to charge in 2.5 hrs.

So, my job resource cost is now 2.5 x 10 = 25.

My question:
How can I know the difference between my actual & standard? Are there any report or screens to tell this?

Pls no hesitate to contact me at

skype: jasminehue
email: jasmine.hue.ly@lkt.com.my

Thanks,
Jasmine [:)]
jasmine.hue
Posts: 42
Joined: Mon Aug 11, 2008 3:20 am
Location: Malaysia

Post by jasmine.hue »

Hi all manufacturing experts,

May I know how to define "Standard BOM Cost" in FIFO costing?

I try to run the Bills of Material Indented Cost Report
I saw there is a field named "Standard Cost", but in my scenario, the field is blank.

Please advice.

Jasmine
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