How is standard costing method is calculated

[Prim (Prim Ethington)]

Hi Mike,

This is off topic from the subject line here. Do you know how standard costing method is calculated and how/when it is impacted through general ledger?

[Chris_Conn]

Perhaps the JobCosting tech ref on EpicWeb has the answer.

[MikeGross]

@Prim - sorry, been out of office since last thursday.

@Chris_Conn is correct - you should find the Job Costing Technical reference on EpicWeb. It has all kinds of good knowledge.

But the short answer is that STD cost is never calculated unless you do a cost roll up - and then it’s only for your manufactured items, not your raw materials. STD cost has to be entered and maintained manually for everything else. DMT is very helpful for that.

AVG and LAST cost are maintained by the system for each Inventory/STK receipt transaction.

[Craig (Craig Rogers)]

I would also check out Help (Press F1 from any module) and search for keyword “hierarchy”. These guides explain how the Epicor transaction post to the GL and what GL control lines are in play.

[Prim (Prim Ethington)]

@MikeGross

sorry, been out of office since last thursday.

@Chris_Conn is correct - you should find the Job Costing Technical reference on EpicWeb. It has all kinds of good knowledge.

But the short answer is that STD cost is never calculated unless you do a cost roll up - and then it’s only for your manufactured items, not your raw materials. STD cost has to be entered and maintained manually for everything else. DMT is very helpful for that.

AVG and LAST cost are maintained by the system for each Inventory/STK receipt transaction.

Thank you so much, Mike!!

[Lisanichols]

I am looking for some answers for standard costing and so far, I am not able to get a definitive answer. We have completed our first STD cost roll this year and have many issues, mostly self induced but one our biggest issues is how the setup time calculates through the standard cost. Right now, we do not carry a standard lot/production size for any of our products in one of our sites but we do on our other site, so on the site that carries a standard production size I can understand that the setup time would be split between all of the parts but in the other site, how would it calculate the costing. This is very important when we are trying to quote something, we may have a much higher cost due to all of the setup time costs going to each piece due to not having a production size and on the other hand, if we make the production size our normal run size then we may have our costing to low for a small order. If anyone could help me define how Epicor processes and calculates this cost during a cost roll up to get to a standard, I would greatly appreciate it.
Thank you, Lisa