Common Elements Used to Understand Standard Costing for Purchased Items

Field or Control	Description
Cost Element	A code used to categorize the different components of an item's cost and also to define the debit and credit ChartField combinations for accounting entries.
Reason Code	Categorizes why the adjustment occurred and can be used later for analysis. The reason type limits the selection to the appropriate reason codes for adjustments.
Source Code	Identifies an item as make, buy, floor stock, expense, or planning. This determines how the system uses the item for the Cost Rollup process and Update Production process (CEREVAL, SFPREVAL, CES5001).
Std UOM (standard unit of measure)	Establish the standard UOM for this item on the Item Definition - General: Common page.