Standard Cost Definition Process

You can create standard costs by:

• Importing them from external sources and legacy applications

• Defining them manually in the costing application

Importing Standard Costs

To import standard cost data from external sources, you must load it into the Standard Cost Interface Table using the application interface or spreadsheet. Once loaded, view the data in the Cost Accounting work area, on the Manage Standard Cost Import Exceptions page, and validate the data by running the Import Standard Costs process. On this page you can also view any errors resulting from the validation process, fix the errors, and rerun the Import Standard Costs process. After validation is complete, the data are loaded into the Standard Costs Interface Table.

Defining Standard Costs

In the Cost Accounting work area, use the Manage Standard Cost Definitions page to view imported standard costs that have been validated, and standard costs that are published from standard cost planning, and also to create new standard costs..