We received price breaks for materials we recently purchased in large quantities. I know there is a field where you can enter price breaks but, when the materials are issued to a job, how can you view the actual cost of the job if the part is issued at standard cost? I realize I can see the variance as a PPV when it is received and invoiced but, how can I see it on the job?
Millicent
Have you tried the retrieve/detail buttons in Job Tracker>Job Details>Assemblies>Costs?
Unless I’m mistaken(wouldn’t be a shock), this should have actual costs of materials issued.
part is issued at standard cost
If what I see is true, the material part is standard costed? The difference between the actual purchase cost and the inventoried cost would be the Purchase Price Variance (PPV). Any issue of the material would be applied to the job at the
Standard cost price. Looking at the Job Tracker would show the material issues. You would not see the actual cost of the materials. You would have to trace back through the inventory to the PO Receipt for that.
If the material part is NOT standard costed, the material cost would be in inventory using the cost method for the material part and would then be issued at that cost to the job. You would then see that cost in the Job Tracker material
issues.
If the material part was received directly to the job, you would see the actual cost of the material regardless of the costing method because the material did not go through inventory.
Let me know if you still have questions.
Charlie Smith
CRS Consulting Services
860-919-1708
Yes, the part is transacted at standard cost. So, I will not see my actual cost on the job, I will see the standard cost. This is the basis for my question. If my goal is to see how much my cost savings were on a project, how can I see that when I issue at standard cost? Is this possible?
Unless you are lot tracking the material part, no. If you were lot tracking, you would be able to review the transactions for that lot.
Charlie Smith
CRS Consulting Services
860-919-1708