Product Costing

by
Odoo          
v 13.0 Third Party 14

400.00 €

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Technical name mrp_product_costing
LicenseSee License tab
Websitehttp://linkedin.com/in/openvalue-consulting-472448176
Also available in version v 12.0 v 11.0 v 10.0
Required Apps Invoicing (account)
Manufacturing (mrp)
Purchase (purchase)
Inventory (stock)
Technical name mrp_product_costing
LicenseSee License tab
Websitehttp://linkedin.com/in/openvalue-consulting-472448176
Also available in version v 12.0 v 11.0 v 10.0
Required Apps Invoicing (account)
Manufacturing (mrp)
Purchase (purchase)
Inventory (stock)

PRODUCT COSTING

 

New features implemented in version 13:

  New analytic postings for cost allocation to production centers

  Full industrial cost determination considering overhead costs, by product amount and fixed direct costs (due to changeover times in work center)

  Actual dates determination based on actual work order dates

  New overhead costs determination based on variable material costs, fixed material costs, variable labour/machine run costs and fixed labour/machine run costs

  Delta costs calculation between standard and actual

  New reporting (list, graph, pivot) for comparing standard vs actual figures, thats material direct costs, labour/machine run direct costs, full direct costs

 

Main features:

  cost figures calculated in real time in manufacturing order

  accounting postings for WIP evaluation at each workorder confirmation

  actual direct costs posted in real time at workorder confirmation

  financial closure of manufacturing order for

     material variance costs accounting posting and

     labour/machine costs accounting posting and

     by product accounting variance amount accounting posting and

     overhead costs analytic postings and

     statistical evaluation of workorder direct fixed costs at standard times as analytic posting

 

Prerequisites:

  stock evaluation as perpetual inventory for production materials (screenshot reported below):


 

Product Costing Parameters

 

The following parameters havet to be set up in the product costing parameters view:

  Planned Variance Cost Account for account posting of variances between semifinished standard cost and semifinished planned cost calculated in manufacturing order

  its analytic account for posting an analytic line

  Material Variance Cost Account for accounting posting of variances between actual overall material consumption and the planned consumption calculated in manufacturing order based on the selected bom

  its analytic account for posting an analytic line

  Labour/Machine Variance Account for accounting posting of variances between actual labour/machine cost calculated at workcenter rates and the planned labour/machine costs calculated in manufacturing order based on the selected routing

  its analytic account for posting an analytic line

  accounting journal for manufacturing accounting postings

 


 

Workcenter master data

 

the following costing master data can be entered at workcenter level:

  Variable Direct Costs:

     hourly rate

    analytic account for analytic posting derived from accounting posting at workorder confirmation

    direct cost account moved at every workorder confirmation; the counterpart is the WIP account

  Fixed Direct Costs:

    hourly rate for analytic posting of fixed direct cost evaluated at standard times in workorder, thats time before production and time after production

    analytic account for analytic posting at manufacturing order financial closure

  Overheads Costs:

    percentage for overheads fixed costs calculated from actual workorder variable direct costs

    analytic account for analytic posting at manufacturing order financial closure

    percentage for overheads variable costs calculated from actual workorder variable direct costs

    analytic account for analytic posting at manufacturing order financial closure

 


 

Bill of Materials master data

 

the following costing master data can be entered at workcenter level:

  Overheads Costs:

    percentage for overheads fixed costs calculated from actual material consuption

    analytic account for analytic posting at manufacturing order financial closure

    percentage for overheads variable costs calculated from actual material consumption

    analytic account for analytic posting at manufacturing order financial closure

 


 

WIP Account Set up at virtual production location level

 


 

Cost figures in Manufacturing Order

 

the following main cost figures are real time calculated and available in the single manufacturing order:

 

  Standard Costs

    Standard Cost - reported from product master data

    Planned Material Cost - based on BOM explosion selected in manufacturing order

    Planned Labour/Machine Cost - based on activities detailed in Routing selected in manufacturing order

    Planned Cost - based on the quantitative structure (BOM and Routing) in manufacturing order, thats it is the sum of its two components detailed before

  Actual Costs

    Actual Material Cost calculated at raw material consumption taking into account the effective quantity consumption; account posting is performed at each production declaration for direct cost and wip account evaluation; an analytic posting is also performed for comparing it with budged cost evaluated for this activity

    Actual Labour/Machine Cost calculated at production declaration (workorder confirmation) taking into account the effective time performed; account posting is performed at each production declaration for direct cost and wip account evaluation; an analytic posting is also performed for comparing it with budged cost evaluated for this activity

    Actual Fixed Cost (at standard time) evaluated at financial closure for information purposes only; an analytic account is performed for comparing it with budged cost evaluated for this activity

    By Product Amount: actual produced quantity of by products receipts

  Actual Costs Unit

    Actual Material Cost per unit calculated dividing the overall Actual Material Cost by the actual produced quantity

    Actual Labour/Machine Cost per unit calculated dividing the overall Actual Labour/Machine Cost by the actual produced quantity

     Actual Produced Quantity

  Overheads Costs

    fixed overheads labour/machine costs calculated from actual workorder direct cost; an analytic posting is also performed for comparing it with budged cost evaluated for this activity when performing manufacturing order financial closure

    variable overheads labour/machine costs calculated from actual workorder direct cost; an analytic posting is also performed for comparing it with budged cost evaluated for this activity when performing manufacturing order financial closure

    fixed overheads material costs calculated from actual raw material consumprion direct cost; an analytic posting is also performed for comparing it with budged cost evaluated for this activity when performing manufacturing order financial closure

    variable overheads material costs calculated from actual raw material consumprion direct cost; an analytic posting is also performed for comparing it with budged cost evaluated for this activity when performing manufacturing order financial closure

 


restructuring the MOs tree view for taking into account the new state closed

 


 

Account and Analytic posting at production declaration (workorder confirmation)

 

workorder confirmation: all accounting figures are based on actual times

 


 

accounting posting with WIP account evaluated in real time at workorder completition

accounting date determined as the end date of the last workorder confirmation

 


 

analytic posting for collecting overall direct costs to be compared with budget amount at the end of the period for rates calculation

 


 

cost figures updated in manufacturing order

 


 

Manufacturing Order Completely done: final cost figures calculated

 

last workorder confirmation

 


 

manufacturing order cost figures updating (after posting goods movements also)

 


 

by product goods receipt posting

 


 

accounting and analytic postings:

  workorder confirmation (direct labour/machine variable costs)

 



 

 

Financial Closure

 


After performing the financial closure, the MO is definitely closed

 


 

accounting entries:

after performing the financial closure, the WIP account balance is zero

  planned variance: difference between the semifinished product standard price and its planned price calculated in MO for the actual produced quantity

 


 

  labour/machine variance: difference between standard times at routing level and actual times at workorder declaration evaluated at standard rate in workcenter

 


 

 

  material and by product variance: difference between standard material consumption at bom level and actual material consumption evaluated at standard price in product master data

the overall amount for by product goods receipt is taken into account also

 


 

analytic entries:

  direct fixed cost (for statistical purposes, i.e. no specific accounting posting related to it) for each activity in the routing

 


 

  overheads cost:

      OVH variable labour/machine costs for each activity in the routing

      OVH fixed labour/machine costs for each activity in the routing

      OVH variable material costs

      OVH fixed material costs

 


 

 

  Planned variance cost

 


 

  Labour/Machine Variance Cost

 


 

  Material and By Product Variance Cost

 


 

After the financial closure, the balance of the WIP account is equal to zero

 


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