The Cost Standards are manually entered in the Standard Manufacturing column. Standard Manufacturing is used to apply an estimated manufacturing cost to the feed produced in the period. At the end of the fiscal period, the variance between the standard cost factor and the actual cost can either be allocated to produced feed using the FMIM OPS Allocation period end task or it may remain in the account as a cost variance. The system only calculates costs and creates journals for the manufacturing component. The cost is entered as $/100 in imperial and $/1000 in metric. Based on the value entered in the manufacturing standard, the production cost of the feed formula will be increased based on the standard per unit amount.
Global post will create journals to debit feed production cost for the manufacturing amount and credit feed mill overhead allocations. At the end of the fiscal period, options will be allocating the difference to the deliveries and inventory using the FMIM OPS Allocation task or leaving it in feed mill overhead as a variance.
| Debit | FDM-INV-FEED-MAN-IN |
| Credit | FDM-OPS-ALLOC-MAN-OUT |
While there are additional fields for standard delivery and shrink costs, there is no logic associated with those options. The values can be used for reporting if required.
to edit the Feed Mill Cost Standards.
Enter the Effective Date for the new cost to begin.
Enter the Standard Manufacturing estimated manufacturing cost value as $/1000 for Metric and $/100 for Imperial.
Enter the Actual Manufacturing cost value as $/1000 for Metric and $/100 for Imperial.