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Standard Costing - Help w/ expected & rounding
Mindie
Member Posts: 124
My client has many entries where the Inventory Valuation Report shows a value but there are 0 qty on hand. I found one item that only has 4 entries to try to get to the bottom of it.
I am having a hard time understanding the entries (perhaps I'm just tired??)
The report says that the qty on hand for this item is 0 and the value is 15,557.76. This is the same amount at is the expected cost field for one of the item ledger entries.
Why is there an amount in the expected cost still? The production order has been closed. Adjust cost has been run.
On the value entries is shows a rounding amount for that same amount. Normally I ony see rounding for a penny or two. Why the full amount?
The cost on the entires shows double of the standard cost. Why are the last two entries as 31,115.52 instead of 15,557.76?
Can you help me make sense of these entries? I have copied them below and did my best to line them up.
Other info: They are on 4.0 sp2 on SQL., manufacturing with standard cost, no serial or lot numbers. They are multi-location but these 4 transactions are all the same location.
Item ledger entries for the item:
Date..........Entry Type.......Quantity..Cost(Exp)....Cost Amount (Actual)
04/01/08......Positive Adjmt.....100..........0.00....388,944.00
04/30/08......Negative Adjmt....-100..........0.00...-388,944.00
05/10/08......Output...............4.....15,557.76.....31,115.52
05/31/08......Negative Adjmt......-4..........0.00....-31,115.52
These are the value ledger entries for the output ILE
Posting Date..ILE Type...Entry Type.....Cost(Exp)....Cost (Actual)..Posted to G/L..ILE Qty..Valued Qty..Cost per
05/10/08......Output.......Direct Cost..15,557.76.........0.00.............0.00.......4.........4..........0.00
05/10/08......Output........Rounding.........0.00....15,557.76........15,557.76.......0.........4..........0.00
05/10/08......Output........Variance.........0.00....15,557.76........15,557.76.......0.........4......3,889.44
I am having a hard time understanding the entries (perhaps I'm just tired??)
The report says that the qty on hand for this item is 0 and the value is 15,557.76. This is the same amount at is the expected cost field for one of the item ledger entries.
Why is there an amount in the expected cost still? The production order has been closed. Adjust cost has been run.
On the value entries is shows a rounding amount for that same amount. Normally I ony see rounding for a penny or two. Why the full amount?
The cost on the entires shows double of the standard cost. Why are the last two entries as 31,115.52 instead of 15,557.76?
Can you help me make sense of these entries? I have copied them below and did my best to line them up.
Other info: They are on 4.0 sp2 on SQL., manufacturing with standard cost, no serial or lot numbers. They are multi-location but these 4 transactions are all the same location.
Item ledger entries for the item:
Date..........Entry Type.......Quantity..Cost(Exp)....Cost Amount (Actual)
04/01/08......Positive Adjmt.....100..........0.00....388,944.00
04/30/08......Negative Adjmt....-100..........0.00...-388,944.00
05/10/08......Output...............4.....15,557.76.....31,115.52
05/31/08......Negative Adjmt......-4..........0.00....-31,115.52
These are the value ledger entries for the output ILE
Posting Date..ILE Type...Entry Type.....Cost(Exp)....Cost (Actual)..Posted to G/L..ILE Qty..Valued Qty..Cost per
05/10/08......Output.......Direct Cost..15,557.76.........0.00.............0.00.......4.........4..........0.00
05/10/08......Output........Rounding.........0.00....15,557.76........15,557.76.......0.........4..........0.00
05/10/08......Output........Variance.........0.00....15,557.76........15,557.76.......0.........4......3,889.44
0
Answers
Almost all of the item ledger entries with an entry type of Output have an amount in the expected cost. The amount is the expected cost is the equal to the standard cost * qty. The Actual Cost field is double that amount on most transactions.
What is setup incorrectly in this database?
This is throwing their inventory values way off.
Any help would be appreciated. Thank you!
Is this an Upgraded Database or was implemented on 4.0 SP3.
Regards
Raj
Regards
Raj
The large amount in rounding and the amount in the expected cost field seems to be the problem.
Why are those amounts there? Would it have anything to do with the actual cost being 0?
I thought I thouroughly searched partnersource but I must have been searching by the wrong terms.
Since it is a confidential article I will just post the link. That way anyone with access to partnersource can read it.
https://mbs.microsoft.com/knowledgebase ... OLSOLUROSM