Product costing analyzes product costs related to overhead, labor, material, and manufacturing costs. It provides a variety of costing approaches such as standard, actual, and average.. Product Costing Functions & Features are an important module of the comprehensive ERP RFP Template for Discrete Manufacturing.
The ERP RFP template with Product Costing Functions & Features for ERP is a Microsoft Excel spreadsheet (.xlsx) featuring a total of 3761 decision criteria.
The ERP RFP template allows you to quickly and easily prepare the business, functional, and technical requirements sections of the solicitation package you'll send to ERP software vendors. It ensures for:
complete response from each ERP software vendor
deep and accurate evaluation of submitted ERP proposals
impartial side-by-side comparison of ERP solutions evaluated
rational and documented selection of the best matching ERP system
The ERP software comparison report can save you up to 90% of the time you would have otherwise spent comparing all the ERP solutions from scratch.
Main modules include Maintains inventory valuation by item or project, at average actual cost;Measures performance by comparing average actual cost to frozen standard cost;Expenses or books purchase price variances back into inventory;Production and partial receipts are used to calculate average cost;Creates detail and summary inventory valuation reports for stores and WIP;. Actual Costing, Product Costing Functions & Features
Functionality below covers Cost computing includes material, labor (sub-assembly and final assembly), overhead (including material overhead), and outside processing;Uses BOMs, routing, and standard prices to calculate the standard cost of a part;Recalculates standard, current, and revised costs;. Costing Calculations, Product Costing Functions & Features
Main modules include Sends an alert whenever costs fall outside of standard or user-defined percentages;Calculates and generates demand inventory valuation reports using standard cost;Records standard costs of material, direct labor, and overhead (total, fixed, variable, and material);Uses separate codes for frozen and current standard costs;Cost category allocation for each resource class;Transfers inventory between company and divisions;. Cost Report and Inventory Accounting, Product Costing Functions & Features
Main modules below cover Tracks the cost incurred by each item of a BOM and at each phase of a routing operation;Runs cost roll-ups as a batch or online;Simulates a production model run with cost roll ups;Tracks the fixed and variable costs of a WIP and compares information among databases at the end of the period (period costing and period reconciliation);Uses different standard and actual hours to generate cost roll ups;Different cost types can be used for standard and actual hours and to generate cost roll ups;. Costing Activity, Product Costing Functions & Features