Item - Standard Cost Details (ticpr3505m000)

	Item - Standard Cost Details (ticpr3505m000) Use this session to display details of (simulated) standard cost by a specific effective date. Related topics Calculation of cost/valuation prices for standard/customized/STO items Cost Component Scheme in Manufacturing Detailed cost component Item The raw materials, subassemblies, finished products, and tools that can be purchased, stored, manufactured, and sold. An item can also represent a set of items handled as one kit, or which exist in multiple product variants. You can also define nonphysical items, which are not retained in inventory but can be used to post costs or to invoice services to customers. The examples of nonphysical items: Cost items (for example, electricity) Service items Subcontracting services List items (menus/options) Effective Date The first date on which the relevant standard cost takes effect. Sequence Number Item costing data can be actualized several times. If item costing data is actualized two or more times while the effective date is the same (which can happen, for example, if you select Last Date of Previous Period as the effective date), the item costing data is distinguished by the sequence number. You can only select Last Date of Previous Period if the Backdate Valuation Price Allowed check box in the Standard Cost Calculation Parameters (ticpr0100m000) session is selected. Inventory Unit The unit of measure in which the inventory of an item is recorded, such as piece, kilogram, box of 12, or meter. The inventory unit is also used as the base unit in measure conversions, especially for conversions that concern the order unit and the price unit on a purchase order or a sales order. These conversions always use the inventory unit as the base unit. An inventory unit therefore applies to all item types, also to item types that cannot be kept in stock. Currency One of a company's base currencies in which LN registers and reports amounts. In a multicurrency system, up to three home currencies can be defined: The local currency Two reporting currencies Related topics Currency systems Cost Component A cost component is a user-defined category for the classification of costs. Cost components have the following functions: To break down an item's standard cost, sales price, or valuation price. To create a comparison between the estimated production order costs and the actual production order costs. To calculate production variances. To view the distribution of your costs over the various cost components in the Cost Accounting module. Cost components can be of the following cost types: Operation Costs Material Costs Surcharge General Costs Not Applicable Note If you use Assembly Control (ASC), you cannot use cost components of the General Costs type. Related topics Cost Component Scheme in Manufacturing Number of Units The number of units in the form of either materials or hours, which are included in the product structure or standard cost structure, and which are saved under the relevant cost component during the standard cost calculation. Added AmountFixed The fixed costs that are connected with the cost components of the item displayed in the session's header. If a cost component is not only applicable for the item displayed in the header, but also for some component items in the item's BOM structure, the costs connected to that cost component are expressed in the Total AmountFixed field. Note Fixed costs are always added to the standard cost of an item. If the Include Fixed Costs in Valuation Price field in the Standard Cost Calculation Parameters (ticpr0100m000) session is selected, fixed costs are also added to the item's valuation price. Related topics Valuation prices Standard cost Added AmountVariable The variable costs that are connected with the cost components of the item displayed in the session's header. If a cost component is not only used for the item displayed in the header, but also for some component items in the item's BOM structure, the costs connected to that cost component are expressed in the Total AmountVariable field. Operation rates and surcharges are variable costs if the Variable Cost check box is selected in the following sessions: Item Surcharges (ticpr1110m000) Operation Rates (ticpr1150m000) Assembly Line Surcharges (ticpr1180m000) Project Surcharges (tipcs3120m000) If the Variable Cost check box is cleared, the costs are considered as fixed costs. Note Fixed costs are always added to the standard cost of an item. If the Include Fixed Costs in Valuation Price field in the Standard Cost Calculation Parameters (ticpr0100m000) session is selected, fixed costs are also added to the valuation price. Related topics Valuation prices Standard cost Total AmountFixed The fixed costs that are connected with the cost components of the header item's parts. The fixed costs that are directly linked to the item in the session's header are displayed in the Added AmountFixed field. Note Fixed costs are always added to the standard cost of an item. If the Include Fixed Costs in Valuation Price field in the Standard Cost Calculation Parameters (ticpr0100m000) session is selected, fixed costs are also added to the valuation price. Related topics Valuation prices Standard cost Total AmountVariable The variable costs that are connected with the cost components of the header item's parts. The variable costs that are directly linked to the item in the session's header are displayed in the Added AmountVariable field. Operation rates and surcharges are variable costs if the Variable Cost check box is selected in the following sessions: Item Surcharges (ticpr1110m000) Operation Rates (ticpr1150m000) Assembly Line Surcharges (ticpr1180m000) Project Surcharges (tipcs3120m000) If the Variable Cost check box is cleared, the costs are considered as fixed costs. Note Fixed costs are always added to the standard cost of an item. If the Include Fixed Costs in Valuation Price field in the Standard Cost Calculation Parameters (ticpr0100m000) session is selected, fixed costs are also added to the valuation price. Related topics Valuation prices Standard cost Cost Component Type A cost component is a user-defined category for the classification of costs. Cost components have the following functions: To break down an item's standard cost, sales price, or valuation price. To create a comparison between the estimated production order costs and the actual production order costs. To calculate production variances. To view the distribution of your costs over the various cost components in the Cost Accounting module. Cost components can be of the following cost types: Operation Costs Material Costs Surcharge General Costs Not Applicable Note If you use Assembly Control (ASC), you cannot use cost components of the General Costs type.