Standard Costs

Purpose

Standard Cost is calculated for each item. It can be used for sales price calculation in Sales Invoices.

Procedure

• Select item by either it's Item Code or by complete Item Description
• Enter the Unit Cost born for the item.
• Enter the Standard Labour Cost per unit born for an item
• Enter the Standard Overhead Cost per unit born for an item
• Select the reference line
• Memo is the additional information about the standard cost
• Click the Update button to implement the standard cost

Tips and Tricks

• Suppose, if you buy same item from different suppliers at different cost, then you'll create a standard cost to solve this issue