Material costs

Yahoo Archive
1
Jerry,
We have recently struggled with this issue and, for the most part,
have reached the same conclusion as you.
How are you valuing the regrind? In our situation, we have some
portion of a blank left over that has the original value of the blank
plus some treatments added to it. So we are looking at a way of
calculating all costs up to a certain operation, then taking a
percentage of what is left over and adding it back to inventory. It
gets complex and requires a lot of administration.
Brian W. Larcom, CFO
Metallized Carbon Corp
bwlarcom@...

--- In vantage@yahoogroups.com, "Jerry Boyle" <jboyle@s...> wrote:
> I was wondering if anyone had an improved method (over our current
method of
> using job cost adjustments) to "credit" jobs for salvaged or by-
product
> materials. Some of our jobs use material #1 to produce parts and
also
> create some usable amount of material #2 (i.e. regrind). In older
versions
> of Vantage we were able to salvage material #2 from the job even
though none
> was issued and it would credit the cost. In 6.1 you can not
salvage a cost
> greater than what was issued. You can a salvage the quantity of
material #2
> but the cost must be $0 if none was issued. So we are doing manual
> calculations and job cost adjustments to credit the jobs. Vantage
support
> offered no other suggestions.
>
> Jerry Boyle, Controller
> Sipco Molding Technologies <http://www.sipco.com/>
> Meadville, PA. 16335
> p 814.724.2243 x53
> f 814.724.2244
> vantage 6.10
>
>
> [Non-text portions of this message have been removed]
2
I was wondering if anyone had an improved method (over our current method of
using job cost adjustments) to "credit" jobs for salvaged or by-product
materials. Some of our jobs use material #1 to produce parts and also
create some usable amount of material #2 (i.e. regrind). In older versions
of Vantage we were able to salvage material #2 from the job even though none
was issued and it would credit the cost. In 6.1 you can not salvage a cost
greater than what was issued. You can a salvage the quantity of material #2
but the cost must be $0 if none was issued. So we are doing manual
calculations and job cost adjustments to credit the jobs. Vantage support
offered no other suggestions.

Jerry Boyle, Controller
Sipco Molding Technologies <http://www.sipco.com/>
Meadville, PA. 16335
p 814.724.2243 x53
f 814.724.2244
vantage 6.10


[Non-text portions of this message have been removed]