Updating Standard Costs Manually

You can manually adjust standard costs by using the Item Production Costs page. You can only use this page to change the standard cost of items that have no activity.

Page Name

Definition Name

Usage

Production Costs Page

CM_PRODCOST

Add the standard costs for items that are not defined as standard costed in any active business unit book.

Use the Item Production Costs page (CM_PRODCOST) to add the standard costs for items that are not defined as standard costed in any active business unit book.

Navigation:

Cost Accounting > Item Costs > Update Costs > Manual Cost Update > Item Production Costs

Use this page to manually add standard costs (material, inbound, or landed costs). The new standard costs are used for future transactions, including shipments from inventory stock (valued at the old standard costs). Use the Cost Rollup process to calculate new standard costs and update current inventory balances to the new standard.

To manually enter a standard cost for an item using this page, the item must be:

  • A purchased item. Make items must use the Cost Rollup and Update Production processes to create the standard cost.

  • Have no quantity currently in the inventory business unit.

  • Not linked to any active standard cost books.

Item costs are effective-dated, and only one standard cost per item can be active within a business unit at any given time. Enter a valid cost element. Enter the amount associated with the cost element in the This Level Cost field.