Advantages
- Ability to monitor and control product lines thanks to a product cost statement (both Direct and Full Costing) for each feature;
- Ability to determine reference and list prices and to increase the value of current stock are very important features based on the product cost calculation.
Features
The main features of the production costs control software are:
- Raw and subsidiary material cost development and also material costs including production order costs referring to standard and full costs
- Labour costs development (internal and external, rework, etc.) using Processing cycles or manufacturing times, promoted at standard costs and settled with full costs
- Direct or Indirect costs are involved depending on the cost for the company accounting system production cost centers, with the opportunity to input annual or monthly reports and budgetary costs directly into the E3 system
- Reallocate industry indirect costs based on cost drivers thanks to working hours, machine hours and stores’ movements and payments, energy consumption or ad hoc consumption
The key features of the solution are:
- Determining total cost of production along with costs by department or by process using ABC logics (Activity Based Costing) to the desired level;
- Analyzing variances of components of the product cost;
- Generating costs to calculate the selling price and the inventory.
To sum up, we can say that technical and consumption data, costs and the handling process included in the management system (such as material receipts, processing cycles, goods movements, analytical accounts) which are taken to the repository and are subject to specific processes and logics determined by the controller who will be determining pricing levels and reallocation rules producing the industrial cost and profit and loss account profiles.
