Contents of the Update Buy Part Standard Cost Screen

Use the fields and options to configure the Update Buy Part Standard Cost screen.

Identification

Use the fields in this block to create a new parameter ID or to retrieve a previously saved parameter ID. A parameter ID represents a set of screen selection parameters. After you have saved a parameter ID and its related parameters, you can retrieve them using Query.

You can use the retrieved parameters to produce reports and run processes more efficiently and with greater consistency. The saved parameters are also useful and necessary when you want to run the process as part of a batch job. Many users save a unique set of parameters for each different way they run a report or process. When you select a previously saved parameter ID or parameter description, the associated saved screen selection parameters automatically display as selection defaults. The page setup and print options, if there are any, are also included in the saved parameter ID. You can change any of the associated selection defaults as necessary.

Field	Description
Parameter ID	Enter, or click to select, a parameter ID of up to 15 alphanumeric characters. Choose characters for your parameter ID that help identify the type of selections you made on the screen, such as PERIOD or QUARTERLY. When you save your record, all the selections made on the screen are stored with the parameter ID. Later, you can retrieve the parameter using Query. You can use the parameter to run the process more efficiently because you can select the parameter ID with its previously defined screen selections. After the default selections display on the screen, you can override the defaults.
Description	Enter, or click to select, a parameter description of up to 30 alphanumeric characters.

Selection Ranges

Part/Rev

Field	Description
Option	Select a range option for the part/revision for which the item standard costs are to be updated. Valid options are All, One, Range, From Beginning, and To End.
Start	Enter, or use to select the starting Project ID.
End	Enter, or use to select the Ending Project ID.

Project

Field	Description
Option	Select a range option for the project for which the project item standard costs are to be updated. Valid options are All, One, Range, From Beginning, and To End.
Start	Enter, or use to select the starting Project ID.
End	Enter, or use to select the Ending Project ID.

Commodity

Field	Description
Option	Select a range option for the commodity code for which parts are to be updated. Valid options are All, One, Range, From Beginning, and To End.
Start	Enter, or use to select the starting Project ID.
End	Enter, or use to select the Ending Project ID.

Options

Buy Parts

Field	Description
Cost Source	Select an option to indicate the source of the cost to use when updating the standard cost. Available options are purchase order (PO), vendor quotes, PO and vendor quotes, item last cost, project item last cost, item reference cost, and project item reference cost.
Number of Purchase Orders	Enter the number of recent POs to use when calculating the new standard cost. This field is enabled if the cost source is PO or PO and vendor quotes.
PO Line Order Date Cutoff	Enter the earliest order date to be used for including PO lines when calculating the new standard cost. This field is enabled if the cost source is PO or PO and vendor quotes.
Data Trim %	This field is enabled if the cost source is PO or PO and vendor quotes. Enter the percentage of trimming that should be done to the data. Trimming is done equally to the lowest and highest end of the retrieved data set (whole records only). In addition, trimming will be based on the unit cost of the records, not on the calculated burden cost for the record. If there are insufficient records to trim equally on both ends, trimming will not occur. The following are examples of processing for the data trim percentage: If there are 100 data records, a data trim of 20% skips the 10 lowest and 10 highest values, and uses the remaining 80 for the calculations. If there are 10 data records, a data trim of 10% results in the system trying to discard only one (1) record, but because there isn’t enough records to trim on both ends of the data set, trimming will not occur. Note: If Project Item Standard Cost check box is selected on the Update group box, trimming is applied to the set of data retrieved for each project. Otherwise, trimming is applied to the set of data retrieved across projects.
Data Evaluation Method	This field is enabled if the cost source is PO or PO and vendor quotes. Select an option to indicate the calculation method to use when deriving the new standard cost. Average: Select this option to sum up the unit cost of all the rows for the project, and divide the sum by the number of rows. This is done separately for direct unit cost and burden unit cost. Median: Select this option to use the record that falls in the middle of the trimmed data range. If two records fall in the middle, calculate the average of the two to get the median. This is done separately for direct unit cost and burden unit cost. Mode: Select this option to use the record that occurs the most number of times. If multiple records have the same maximum frequency, find the average of these records to get the mode. This is done separately for direct unit cost and burden unit cost. Weighted Average: Select this option to use the weighted average. Use the method below to compute for the weighted average: Multiply the quantity by the price (for each record) to get the total cost for each record. Sum up the total costs of all the rows for the project to get the total for all the selected rows. Divide the total by the sum of all the quantities from the selected rows to get the weighted average.

Burdening on Receipt

Use this group box to specify the source of burden rates to be applied to the calculated standard cost when burdening is on receipt.

If you select burdening by Inventory Burden Rates (screen option), you can burden either using target rates or actual rates, both retrieve the burdening rates for matching fiscal year and account/organization as saved in the system.

If you select burdening by Burden Rates (specified), you can manually enter the burden rates for material and subcontract cost elements.

Field	Description
Inventory Burden Rates	Select this option to use previously calculated target or actual burden rates based on cost pools for a specific year. This option enables Target, Actual, and Fiscal Year buttons and field.
Target	Select this option to indicate that target inventory burden rate should be applied to the standard cost.
Actual	Select this option to indicate that actual inventory burden rate should be applied to the standard cost.
Fiscal Year	Enter, or use to select the fiscal year from which the target/actual inventory burden rate is to be used for applying burden.
Burden Rates (specified)	Select this option to use burden rates manually entered on the screen. This option enables Material and Subcontract fields.
Material	Enter the percentage of burden to apply to the calculated material standard cost.
Subcontract	Enter the percentage of burden to apply to the calculated subcontract standard cost.

Update

Use this group box to retrieve current costs from the currently effective standard cost row in project item standard cost for the part/revision/project. If this is not available, the current costs from the currently effective standard cost row in item standard cost for the part/revision are retrieved. If both are unavailable, Costpoint uses zero.

Field	Description
Project Item Standard Cost	Select this check box to update project item standard cost. Selecting this check box enables the Exclude Project Item Burden Cost check box.
Exclude Project Item Burden Cost	Select this check box to exclude update to project item burden cost.
Item Standard Cost	Select this check box to update item standard cost. Selecting this check box enables the Exclude Item Burden Cost check box.
Exclude Item Burden Cost	Select this check box to exclude update to item burden cost.

Field	Description
Create Cost Adjustment Transactions	This check box defaults to the option selected in Configure Product Definition Settings. Keep it selected to create cost adjustments for the updates made to standard costs for projects that use standard costing.

Field	Description
Do Not Post to General Ledger	This check box defaults to the option selected in Configure Product Definition Settings. This check box is also available if the Create Cost Adjustment Transactions check box is selected, otherwise, this check box is unavailable. Select this check box to prevent the created cost adjustment transactions from posting to the general ledger.

Print Options

Field	Description
Show Cost Elements	Select this check box to include cost element breakdown in the report.
Show PO & Vendor Quote Details	Select this check box to include PO and vendor quote details that were used in the calculations. If selected, this enables the Show Trimmed Off Data check box.
Show Trimmed Off Data	Select this check box to include PO and vendor quotes that were not used in the calculations.
Exclusion Report	Select this check box to preview or print the list of parts for which standard costs cannot be calculated.

Sort By

Use this group box to indicate the sort option for the report.

Field	Description
1st Sort	Select the primary sort option for the report. Available options are Part/Rev, Project, and Commodity. The Project option only applies if Project Item Standard Cost check box is selected.
2nd Sort	Select an option to indicate the secondary sort option for the report. Available options are Part/Rev, Project, and Commodity. The Project secondary option only applies if Project Item Standard Cost check box is selected. This is only enabled if initial sort is by part/rev or commodity. The Part/Rev secondary option is only available if initial sort is by project or commodity. The Commodity secondary option is only available if initial sort is by project.