v 14.0 Third Party 19
Required Apps Manufacturing (mrp)
Purchase (purchase)
Inventory (stock)
Invoicing (account)
Included Dependencies
MRP Shop Floor Control (1061 lines of code)
Openvalue Warehouse Calendar (19 lines of code)
Lines of code 2153
Technical Name mrp_product_costing
LicenseSee License tab
Websitehttp://linkedin.com/in/openvalue-consulting-472448176
Also available in version v 13.0
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Required Apps Manufacturing (mrp)
Purchase (purchase)
Inventory (stock)
Invoicing (account)
Included Dependencies
MRP Shop Floor Control (1061 lines of code)
Openvalue Warehouse Calendar (19 lines of code)
Lines of code 2153
Technical Name mrp_product_costing
LicenseSee License tab
Websitehttp://linkedin.com/in/openvalue-consulting-472448176
Also available in version v 13.0

PRODUCT COSTING

The OpenValue Product Costing module supports the decision-making process about manufacturing costs providing with all necessary costing figures.

The module is integrated in a seamless way with the OpenValue Shop Floor Control module and it completes the manufacturing execution process with the product costing side.    

The costing figures, calculated in real time in different manufacturing execution phases, are as follows:

·       Standard Costs related to manufacturing data structure, i.e. BoM and product master data; these are useful for engineering manufacturing dpt as reference to design costs; the standard cost from product master data is reported also;

·       Planned Costs calculated from components and operation in production order before executing it (frozen at production order confirmation phase) to provide a reference starting point to measure production department efficiency;

·       Actual Costs determined in real time during the manufacturing execution phase related to real components consumption and real workorders timing; variances costs and overhead costs are determined and posted at production order closure.   

 

Main features:

§  costing figures calculated in real time in performing the manufacturing order execution

§  accounting and analytic postings for WIP evaluation at workorder confirmation (hence, WIP account evaluated in real time and its value is detailed and provided at manufacturing order level)

§  two different rates for fixed and variable costs at WorkCentre level

§  actual direct costs posted in real time at workorder confirmation split off in fixed and variable ones and posted in two different financial accounts

§  delta analysis between planned costs and actual ones related to all costing figures at manufacturing order level

§  financial and analytic postings for the following variances

     full standard direct cost compared to full planned direct cost

     actual components consumption costs to the planned ones

     actual workorder times costs to the planned ones

§  Overhead Costs determination based on

     actual components consumption costs,

     actual finished product cost,

     variable direct costs and

     fixed direct costs

        Closure of manufacturing order for financial and analytic postings related to variances costs and analytic postings for overhead costs

        Full Industrial Cost determination taking into account the overhead costs

        Reporting (list, graph, pivot) for evaluating costing figures

 

Prerequisites:

§  stock evaluation as perpetual inventory for production materials (both components and semifineshed products)

§  WIP Account Set up at virtual production location level

 

 

Cost figures in Manufacturing Order

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

 

Production Unit Costs

 


Standard Costs

    Component Consumption Unit Costs - based on BOM explosion selected in manufacturing order evaluated at standard cost

    Variable Direct Unit Costs - based on operations detailed in BoM selected in manufacturing order and evaluated at Variable Cost Rate in the responsible WorkCentre

    Fixed Direct Unit Costs - based on start and end times in the WorkCentre Responsible to the operation in BoM evaluated at Fixed Cost Rate

    ByProduct Amount - based on BoM explosion selected in manufacturing order

    Full Direct Cost - based on the BoM, that’s the sum of its components detailed before (byproduct amount also as minor cost)

    Current Standard Cost - reported from product master data

 

Planned Unit Costs: as described before for the Standard ones related to both the Components and Operations detailed in Manufacturing Order and frozen at its confirmation.

 

Actual Unit Costs: as described before for the Standard and Planned ones taking into account for evaluation both the actual components and by-products quantities and the actual variable and fixed times entered in workorders confirmation; the actual produced quantity is to determine the unit costs from the overall amount.

 

Full Industrial Unit Cost including overhead costs also

 

 

Production Costs


Planned Costs: overall amount of planned costs

 

Actual Costs: overall amount of actual costs

 

Delta Costs: from actual to the planned ones

 

Overheads Costs

    variable direct overhead costs calculated from actual workorder variable direct costs;

    fixed direct overhead costs calculated from actual workorder fixed direct cost;

    finished product overhead costs calculated from actual direct finished product;

    components consumption overhead costs calculated from actual components consumption costs;

 

WIP Amount: calculated in real time by summing all actual direct costs

 

Full Industrial Cost including overhead costs also

 

 


        analytic account for direct cost postings: in case this is empty, the analytic account from the responsible operation WorkCentre is derived

        button for listing all accounting moves

        button for listing all analytic moves

 

 

Accounting and Analytic postings

at workorder confirmation:

·       all posted accounting amounts are based on actual times

·       accounting and analytic postings at workorder confirmation:

o    accounting posting with WIP account evaluated in real time at workorder declaration

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

·       accounting date determined as the workorder actual end date

·       two financial accounts for variable and fixed direct costs

·       analytic account is taken from manufacturing order or derived from WorkCentre

·       cost figures updating in manufacturing order

 

at manufacturing Order Closure:

·       manufacturing order cost figures updating

·       accounting date determined as the actual scheduled end date

·       financial and analytic postings of variances

·       the WIP account balance is zero because of variances postings

·       analytic entries for overhead costs

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