Costing
Overview:
One and two day comprehensive sessions designed to review costing methods available with the RRM product. Theory and practical costing processes are discussed.
Who Should Attend:
It is recommended that new users attend Costing classes as early as possible during initial system implementation. Doing so may facilitate the decision process of selecting a costing method best suitable for your business.
Location:
ProfitKey’s Training Facility
Salem, New Hampshire
Optional on-site training available at the ProfitKey standard on-site rate provided proper training facilities are available at the customer site.
Major Topics Covered:
- Non-LIFO/FIFO
- LIFO/FIFO
- Job Definition (Order Routing Bill)
- How material costing works
- Setting system variables
- Material cost in the item master file
- Estimate versus actual material costing
- System processing / impacts cost
- Manual cost updates / impact cost
- Costing reports
- Operation costing / how operation costing works
- Work shop session
Cost:
$450 per person, per day
Course Outline
Day 1 – Material Costing
How RRM Material Costing Works
- Costing Flow Chart
- Cost Occurrence Records
- Cost Distribution Records
- Cost at Purchase Price or Invoice
- Purchase Order Linking Non-LIFO/FIFO
Setting the System Variables
- Mfg/Job Shop Variables
- Scheduling Variables
Material Cost in the Item Master File
- The Item Cost Screen
- Product Structure Cost
Estimate versus Actual Material Costing
- Where the system Looks!
- Mirroring
- Returns
System Processing / Impacting Cost
- Closing Programs - Why and when to execute (job/lot, shop order, purchase order)
- Cost Distribution No Closing
- Period Tasks - Zero Out Year-to-Date Cost Field
Manual Cost Updates / Impact Cost
Non-LIFO/FIFO
- The Actual Cost Update for Materials Program
- The Requirements Cost Detail
LIFO/FIFO
- The LIFO/FIFO Maintenance Program
Costing Reports
- Inventory Costing Reports
- Shop Order / Job Performance Reports
- Exception Reports
- LIFO/FIFO Candidate List Report
Day 2 – Operation Costing
Operation Costing / How Operation Costing Works
- Detail Discussion of the System Variables Related to Operation Costing
- Set-up Mfg/Job Shop Variables
- Set-up Labor Reporting Variables
Setting Up Work Centers/ Work Center Maintenance Cost Fields
- Review and Discussion of all Work Center Fields / Impact on Costing
External Work Centers
- Recommendations on Outside Work Center Processing
- Service Type Material Records in the Product Structure
- Purchase Orders / Costs Related to Outside Processing
Labor Reporting
- Discussions on How Labor Reporting Affects Costing
- Work Order Cost Adjustment Program (If Employee Pay Rate is Used)
Work Shop Session
- Comprehensive Pilot Workshop Designed to Demonstrate Non-LIFO/FIFO and LIFO/FIFO Costing. Shop Orders and Job/Lots are Processed During the Pilot. Costing Process is Reviewed. Class Participant See First Hand How to Apply Methods Learned in Class.