Standard Cost Calculation
This process enables you to update standard costs for products as part of annual operations planning. The costs are entered manually, and the costing run is created and executed.
Key Process Steps Covered
- Enter activity price
- Create costing run
- Execute costing run
Benefits
- Calculate standard costs annually to reflect the changes in prices of purchased parts, labor and overhead costs, and bills of materials and operations needed to manufacture semi-finished and finished goods