Cost Report and Inventory Accounting Features and Functions
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- 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
- Modifiable values can be used in inventory valuation
- Tracks and records the inventory valuation of vendor and customer consignment materials
- Excess inventory identification and accounting
- Generates inventory valuation reports on slow-moving inventory and their accumulated carrying costs
- Frozen standard costs for inventory valuation
- Purchase price variance booked through receiving and accounts payable
- Audit trail for transaction records
- Transaction costing and summaries
- Generates reports on standard costs
- Tracks the value of stockroom inventory at the item-level, and generates a valuation report
- Tracks the value of WIP, by manufacturing order and generates a valuation report
- Updates inventory valuation with revised standard costs
- Cost system must be linked to A/R billing and shipping transactions for sales and discounts
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Product Costing Features and Functions
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