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Friedman Software: Product Costing

Product Costing

 

The Frontier Product Costing module accurately tracks and calculates product costs based on material, labor and any established overheads for purchased, make-to-stock and customer-specified, make-to-order products. Several foundation costing methodologies are supported, providing accurate pricing, profitability and performance information across all aspects of the Frontier® ERP System.

Product Costing Supports:

  • Cost tracking by product and plant/warehouse, with costs calculated based on a standard, weighted average or actual costing methodology
  • Costs summarized into four primary buckets (material, labor, fixed overhead, variable overhead), with each primary bucket supported by user-defined cost elements as required
  • Automatic calculation of costs for manufactured products based on current production BOM, routing and associated work center and labor rates
  • Visibility of frozen standard, current, future and last standard costs for all products under a standard cost methodology
  • True standard cost support for customer-specified make-to-order products, supporting repeat orders and the tracking of material transfers between plants or warehouses
  • Real-time cost calculations for customer-specified make-to-order products to provide margin visibility and cost-plus pricing support during quote and order entry processing
  • Production variance tracking based on material substitutions, labor or operational efficiency variations
  • Accurate scrap valuation based on incremental product cost calculations and associated production operation where material was reported scrapped
  • Reporting of sales analysis and order margins based on standard/average/actual and/or current costs

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