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    Fusion Work Order Costing

    Uploaded by

    Venkata Ramanaiah Koka

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    © All Rights Reserved
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    Fusion Work Order Costing

    Uploaded by

    Venkata Ramanaiah Koka
    76 views14 pages

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    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    76 views14 pages

    Fusion Work Order Costing

    Uploaded by

    Venkata Ramanaiah Koka

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 14

    15

    Lesson 15: Work Order Costing


    Part 4: Manufacturing Costing
    Supply Chain Managerial Accounting Course

    Copyright © 2016, Oracle and/or its affiliates. All rights reserved.


    Objectives

    After completing this lesson, you should be able to:


    • Describe how data is interfaced from Inventory and
    Manufacturing work order execution
    • Step through the process of work order cost calculations

    Copyright © 2016, Oracle and/or its affiliates. All rights reserved. 15 - 2


    Steps for Costing Work Orders

    • Ensure that the following scheduled processes are running:


    – Transfer Transactions from Production to Costing
    – Transfer Transactions from Inventory to Costing
    – Create Cost Accounting Distributions (process that costs
    transactions and creates distributions)
    • Create work orders and report transactions.
    • Verify work order costs.
    • Verify distributions.

    Copyright © 2016, Oracle and/or its affiliates. All rights reserved. 15 - 3


    Work Order Charging

    Create a standard work order.

    Copyright © 2016, Oracle and/or its affiliates. All rights reserved. 15 - 4


    Quick Complete Work Order

    Perform Quick Complete of the work order that was created to


    report material and resource transactions based on the work
    definition.

    Copyright © 2016, Oracle and/or its affiliates. All rights reserved. 15 - 5


    Verifying Transactions in Production

    Ensure that all the transactions have been created in Production.

    Copyright © 2016, Oracle and/or its affiliates. All rights reserved. 15 - 6


    Transfer Transactions to Costing

    Production to
    Costing

    Inventory to
    Costing

    Copyright © 2016, Oracle and/or its affiliates. All rights reserved. 15 - 7


    Running the Create Cost Accounting Distributions
    Process

    Copyright © 2016, Oracle and/or its affiliates. All rights reserved. 15 - 8


    Review Work Order Costs

    View summarized
    work order costs on
    the Review Work
    Order Costs User
    Interface (UI), or
    detailed work order
    costs on the View
    Detailed Balances UI.

    Copyright © 2016, Oracle and/or its affiliates. All rights reserved. 15 - 9


    Review Cost Accounting Distributions

    Copyright © 2016, Oracle and/or its affiliates. All rights reserved. 15 - 10


    Reviewing Variances

    • Detailed variances are


    calculated for standard
    costed products.
    • They are calculated when a
    work order is closed.
    • The variances calculated
    include:
    – Material Substitution
    – Material Usage
    – Material Rate
    – Resource Substitution
    – Resource Usage
    – Resource Rate
    – Batch Size
    – Job Close
    • Variances are calculated and
    recorded at the cost element
    level.

    Copyright © 2016, Oracle and/or its affiliates. All rights reserved. 15 - 11


    Demonstration: 15-1

    • Execute work order cost accounting.

    Copyright © 2016, Oracle and/or its affiliates. All rights reserved. 15 - 12


    Practice: 15-1

    • Execute word order cost accounting.

    Copyright © 2016, Oracle and/or its affiliates. All rights reserved. 15 - 13


    Summary

    In this lesson, you should have learned to:


    • Describe how data is interfaced from Inventory and
    Manufacturing work order execution
    • Step through the process of work order cost calculations

    Copyright © 2016, Oracle and/or its affiliates. All rights reserved. 15 - 14

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