Using the Item Costs Form

If the Cost Item at Warehouse field on the Inventory Parameters form is selected when you open this form, you cannot use this form. Instead, use the Item Warehouse Costs form.

These tabs are available:

  • The Cost Detail tab displays assembly and accumulated costs for labor, type, and overhead. These costs are generated by the Current BOM Cost Roll Up form. All values are domestic currency costs per item.

    The Assembly column contains the costs actually involved in putting the item together (single level). Assembly costs include labor and overhead for each operation and material costs for sub-components with a Source Code of Purchased.

    The Accumulated column contains the cost involved in putting the item together and all the costs of its sub-components (all levels). Accumulated costs include the Assembly costs plus the labor, overhead, machine, and material costs for sub-components with a Source Code of Manufactured.
    Note:  You cannot update any of the fields on this tab.
  • Use the Cost Maint tab to maintain costs for both purchased and manufactured items. The system maintains a separate total for Purchased Current Unit Cost and for Manufactured Current Unit Cost. If the item is Standard costed, you can enter a standard unit cost on this tab only if you have not yet entered any transactions against the item.
    Note:  The cost values on this form are automatically updated each time a cost roll-up is performed and reflect the most accurate costs. These are not true costs, but are an approximation of the cost.
    To gain a clearer picture of costs, you can run any of the item costing reports.
  • Use the Compare tab to compare the cost breakdown on your Current routing/BOM to the cost breakdown on your Standard routing/BOM.
    Note:  The Standard column will contain information only if the item uses Standard costing.
  • Use the Std Cost tab to view information regarding your Standard costs. When you run the Roll Current to Standard Utility for items using Standard costing, the system displays the total Standard cost at the Items level and copies the costs for the Current Operations and Materials to the Standard Operations and Materials.

Typically, you will run the Roll Current to Standard Utility on a periodic basis, perhaps annually. Throughout the remainder of the period, the system will use the Standard costs (displayed on the Item Costs form) for calculating variances and reporting costing.

Note:  The Standard Operations, Standard Materials, and their associated Standard Costs are view only; you can only update them by running the Roll Current Cost to Standard Cost Utility again. You can update the Item Costs - Cost Detail Tab at any time without affecting its Standard counterpart. All of the fields on this tab default when you perform the Roll Current to Standard Utility.