MFG/PRO Annual Standard Cost Formulation

Posted on: May 14, 2008 | By: SuperUser Account | QAD Financials

In my next series of blogs, I want to explore the business issues and business processes involved in the annual cost formulation process. I will discuss the following:

1. Budget Planning and Annual Forecasting.

2. Burden and Overhead versus Variable and Fixed Costs.
3. Direct vs. Indirect Costs.
4. Understand your Profit and Loss Statement
5. What is SG&A and does it belong in my standard cost?
6. The blocking and tackling of cost formulation.
7. How should I recognize write up or write down of inventory from my annual cost roll?

Although the above concepts are ERP software independent, I will discuss the business concept in relation to the QAD MFG/PRO software.

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