Product Costing

by
Odoo          
v 10.0 Third Party 13

300.00 €

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Technical name mrp_product_costing
LicenseSee License tab
Read description for v 12.0 v 11.0
Required Apps Inventory Management (stock)
Manufacturing (mrp)
Accounting and Finance (account_accountant)
Purchase Management (purchase)
Invoicing (account)
Included Dependencies

PRODUCT COSTING

 

Main features:

   cost figures calculated in real time in manufacturing order

   accounting postings for WIP evaluation at each workorder confirmation

   actual direct costs posted in real time at workorder confirmation

   financial closure of manufacturing order for

   material variance costs accounting posting and

   labour/machine costs accounting posting and

   by product accounting variance amount accounting posting and

   overhead costs analytic postings and

   statistical evaluation of workorder direct fixed costs at standard times as analytic posting

 

Constraints:

   production process managed by workorders

   stock evaluation as perpetual inventory for production materials (screenshot reported below):

 


 

 

Manufacturing Setting

 

it is possible to set up in the manufacturing setting view:

  Planned Variance Cost Account for account posting of variances between semifinished standard cost and semifinished planned cost calculated in manufacturing order

  its analytic account for posting an analytic line

  Material Variance Cost Account for accounting posting of variances between actual overall material consumption and the planned consumption calculated in manufacturing order based on the selected bom

  its analytic account for posting an analytic line

  Labour/Machine Variance Account for accounting posting of variances between actual labour/machine cost calculated at workcenter rates and the planned labour/machine costs calculated in manufacturing order based on the selected routing

  its analytic account for posting an analytic line

  accounting journal for manufacturing accounting postings

 


 

 

Workcenter master data

 

the following costing master data can be entered at workcenter level:

  Variable Direct Costs:

   hourly rate

  analytic account for analytic posting derived from accounting posting at workorder confirmation

  direct cost account moved at every workorder confirmation; the counterpart is the WIP account

  Fixed Direct Costs:

  hourly rate for analytic posting of fixed direct cost evaluated at standard times in workorder, thats time before production and time after production

  analytic account for analytic posting at manufacturing order financial closure

  Overheads Costs:

  percentage for overheads fixed costs calculated from actual workorder variable direct costs

  analytic account for analytic posting at manufacturing order financial closure

  percentage for overheads variable costs calculated from actual workorder variable direct costs

  analytic account for analytic posting at manufacturing order financial closure

 


 

 

Bill of Materials master data

 

the following costing master data can be entered at workcenter level:

  Overheads Costs:

  percentage for overheads fixed costs calculated from actual material consuption

  analytic account for analytic posting at manufacturing order financial closure

  percentage for overheads variable costs calculated from actual material consumption

  analytic account for analytic posting at manufacturing order financial closure

 


 

 

WIP Account Set up at virtual production location level

 


 

 

Cost figures in Manufacturing Order

 

the following main cost figures are real time calculated and available in the single manufacturing order:

 

   Standard Costs

  Standard Cost - reported from product master data

  Planned Material Cost - based on BOM explosion selected in manufacturing order

  Planned Labour/Machine Cost - based on activities detailed in Routing selected in manufacturing order

  Planned Cost - based on the quantitative structure (BOM and Routing) in manufacturing order, thats it is the sum of its two components detailed before

   Actual Costs

  Actual Material Cost calculated at raw material consumption taking into account the effective quantity consumption; account posting is performed at each production declaration for direct cost and wip account evaluation; an analytic posting is also performed for comparing it with budged cost evaluated for this activity

  Actual Labour/Machine Cost calculated at production declaration (workorder confirmation) taking into account the effective time performed; account posting is performed at each production declaration for direct cost and wip account evaluation; an analytic posting is also performed for comparing it with budged cost evaluated for this activity

  Actual Fixed Cost (at standard time) evaluated at financial closure for information purposes only; an analytic account is performed for comparing it with budged cost evaluated for this activity

  By Product Amount: actual produced quantity of by products receipts

   Actual Costs

   Actual Material Cost per unit calculated dividing the overall Actual Material Cost by the actual produced quantity

   Actual Labour/Machine Cost per unit calculated dividing the overall Actual Labour/Machine Cost by the actual produced quantity

   Actual Produced Quantity

   Overheads Costs

  fixed overheads labour/machine costs calculated from actual workorder direct cost; an analytic posting is also performed for comparing it with budged cost evaluated for this activity when performing manufacturing order financial closure

  variable overheads labour/machine costs calculated from actual workorder direct cost; an analytic posting is also performed for comparing it with budged cost evaluated for this activity when performing manufacturing order financial closure

  fixed overheads material costs calculated from actual raw material consumprion direct cost; an analytic posting is also performed for comparing it with budged cost evaluated for this activity when performing manufacturing order financial closure

  variable overheads material costs calculated from actual raw material consumprion direct cost; an analytic posting is also performed for comparing it with budged cost evaluated for this activity when performing manufacturing order financial closure

 


restructuring the MOs tree view for taking into account the new state cost


 

 

Account and Analytic posting at production declaration (workorder confirmation)

 

workorder confirmation: all accounting figures are based on actual times


 

accounting posting with WIP account evaluated in real time at workorder completition

accounting date determined as the end date of the last workorder confirmation


analytic posting for collecting overall direct costs to be compared with budget amount at the end of the period for rates calculation


cost figures updated in manufacturing order


 

 

Manufacturing Order Completely done: final cost figures calculated

 

last workorder confirmation


manufacturing order cost figures updating (after posting goods movements also)


Posting by product goods receipt


accounting postings:

   workorder confirmation (direct labour/machine variable costs)


 

 

Financial Closure

 


After performing the financial closure, the MO is definitely closed


 

account entries:

after performing the financial closure, the WIP account balance is zero

   planned variance: difference between the semifinished product standard price and its planned price calculated in MO for the actual produced quantity


   labour/machine variance: difference between standard times at routing level and actual times at workorder declaration evaluated at standard rate in workcenter


   material and by product variance: difference between standard material consumption at bom level and actual material consumption evaluated at standard price in product master data

the overall amount for by product goods receipt is taken into account also


 

analytic entries:

   direct fixed cost


   overheads cost


   Planned variance cost


  Labour/Machine Variance Cost


  Material and By Product Variance Cost


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will it work on V10 Enterprise


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