Costpoint Online Help

Cost Options Tab

Use the Cost Options tab to enter the cost options for the inventory.

Cost Options

Field Description
Inventory Recognition Point

Enter, or click to select the level at which the material accrues as inventory. The system-defined points are as follows:

  • Acceptance: Inventory accrues when received quantities are accepted.
  • Receipt: Inventory accrues when quantities have been received.
Costing Method

Select the costing method for inventory parts, either Standard or Average Actual. This gets its value from the costing method on the Manage Inventory Projects (INMPROJ) screen and defaults to Average Actual.

Roll-Up PO Charges in Material Cost (Expense Inv Only)

Select this checkbox if PO line charges are to be rolled up into inventory material cost. If you select this checkbox, all PO line charges will be rolled up and added to the unit cost of the part. To cost a line charge type separately, you must enter it as its own line item in the purchase order. If you clear this checkbox, only the net unit cost is used as the inventory material cost.

Report Elements of Material Cost

Select this checkbox to show all cost elements of the inventory cost on reports. A cost element refers to the breakdown of material cost, labor costs, subcontract costs, and miscellaneous costs as well as each of their applicable burdens. If you clear this checkbox, all charges are combined into one cost when printed.

WIP Variance by Cost Elements (for Average Actual Costing)

Select this checkbox if MO WIP variance is broken down into more detailed cost elements.

Standard Costing

Field Description
Standard Cost Valuation

If you used the standard costing method, use this drop-down list to select the determination of the standard cost. Options are:

  • Item Std Cost: If this option is selected, the labor, misc 1 and misc 2 standard costs are based on the standard costs set up for these elements on Manage Parts/ Item Standard Costs subtask.
  • Project Item Std Cost: If this option is selected, the labor, misc 1 and misc 2 standard costs are based on the standard costs set up for these elements on Manage Parts/ Project Item Standard Costs subtask.
  • Project Item Std Cost/Item Std Cost: If this option is selected, the labor, misc 1 and misc 2 standard costs are based on the standard costs set up for these elements on Manage Parts/Project Item Standard Costs subtask (if available), else from Manage Parts/Item Standard Costs subtask.
  • N/A: This is the default option, and would apply if Costing Method = Average Actual.
Calculate Labor Efficiency Variance

Select this checkbox to calculate labor costs using routing standard hours and labor operation standard rate. If selected, labor efficiency is calculated based on the routing operation standard hours multiplied by labor operation standard rate. This checkbox defaults to a similar item on the Manage Inventory Projects screen and where you can change the value, if needed.

Post Project WIP Variance

Select this checkbox to post asset variance for a project, even if the project is not specified as common inventory. This checkbox defaults to a similar option on the Manage Inventory Projects screen and where you can change the value, if needed.