JD Edwards EnterpriseOne Product Costing and Manufacturing Accounting Overview
Product costing and manufacturing accounting is an important part of a profitable manufacturing environment. After you have determined whether the company will use standard or actual costing methods, you can set up and implement the manufacturing accounting system.
Oracle's JD Edwards EnterpriseOne Product Costing and Manufacturing Accounting systems in the JD Edwards EnterpriseOne Supply Chain Management suite from Oracle provide the features required to resolve the issues presented by the industry environment and enable a company to control its costs and make them transparent.
With this application, you can:
Define and maintain an unlimited number of cost components for tracking specific costs, such as freight, taxes, duty, and electricity.
Define an unlimited number of cost methods to use in cost simulation analysis.
Assign cost factors and rates to a specific item to be used with cost extras or add-ons to calculate additional costs.
Print a set of reports to compare old costs with new costs before implementing any changes.
Calculate the total material cost by retrieving the bill of material for all items and adding the total cost of the components.
Run a complete simulation of costs before any live data is updated as the frozen cost standard.
Maintain cost information at the branch/plant and work center level to allow for cost variances at different locations for identical manufactured items.
Charge amounts to specified accounts.
Create detailed or summary journal entries for work in process or completions.
Create detailed or summary journal entries for work order or rate schedule variances.
Print reports listing detailed costs and variances for work orders or rate schedules.
Review engineering, planned, actual (material and labor), and other variances.
Process lean accounting transactions using transaction IDs and production plans rather than work orders.