As discussed over the phone, the following products are already available in the MIS costing module. I will upload the remaining ones and will confirm you once done. The rest of the products have been uploaded in the costing module.
Please find MOM of the meeting held on 15-Jan-2014’ Wednesday.
Two points which came up during the discussion were :
a) What is the current month unit cost of production of a given product ? This calculation will be based on the actual costs, calculated based on PMAC (Period Moving Average Cost) logic, coming up from all the batches produced for the period.
b) What is the total cost of production of one batch (FO standard quantity) for the given product ? This calculation will be derived based on the Unit Cost calculated in step (a).
As per the discussion, with the current cost sheet, we are able to fulfill point (a) where we are getting the Unit Costs for all related cost components involved in the production. And this value is based on Actual (actual transaction quantities, actual resource usages, actual number of batches produced). Hence, as decided, we will keep the current cost sheet as it is.
Now, to cater to the 2nd requirement, We are going to use the Cost Component level PMAC (Period Moving Average Cost) unit costs (point-a) to multiply with the FO standard material quantities / resource usages to arrive at the Total Costs. This will effectively help the management to gauge the total cost of production of 1 batch of the given product.
Changes related to point (b), will be done as a separate page in the current cost sheet program.
Please find MOM of the meeting held on 15-Jan-2014’ Wednesday.
Two points which came up during the discussion were :
a) What is the current month unit cost of production of a given product ? This calculation will be based on the actual costs, calculated based on PMAC (Period Moving Average Cost) logic, coming up from all the batches produced for the period.
b) What is the total cost of production of one batch (FO standard quantity) for the given product ? This calculation will be derived based on the Unit Cost calculated in step (a).
As per the discussion, with the current cost sheet, we are able to fulfill point (a) where we are getting the Unit Costs for all related cost components involved in the production. And this value is based on Actual (actual transaction quantities, actual resource usages, actual number of batches produced). Hence, as decided, we will keep the current cost sheet as it is.
Now, to cater to the 2nd requirement, We are going to use the Cost Component level PMAC (Period Moving Average Cost) unit costs (point-a) to multiply with the FO standard material quantities / resource usages to arrive at the Total Costs. This will effectively help the management to gauge the total cost of production of 1 batch of the given product.
Changes related to point (b), will be done as a separate page in the current cost sheet program.
Minutes of Meeting (MOM) on Product Cost Sheet
Reviewed by Hosne
on
10:12 AM
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