Using Adjust Standard Costs

1. When you first enter the Adjust Standard Cost option a Select An Option window will display with a list of buyers. Select the specific buyer, or ALL BUYERS, for the items that need a change to the standard costs. Press Enter to confirm your selection.

2. A Select An Item First Digit window appears. Enter the item maskA mask is used to conduct a wild card search. Visually a mask is represented by a series of forward slash marks (///), sometimes with a letter, letters, or number(s) preceding it (1/// or AB///). For example, if you enter ////////, this indicates that you want to list all items defined in the system. If you enter in 1//1//1/, this indicates that you want the system to list items that have the digit "1" in those locations. for the item(s) whose standard cost you want to adjust. For more information see Entering a Mask.

3. After selecting an item mask, a Replace Current Standard Cost window will appear and display all items based off of the specified item mask and buyer selected. Column definitions appear below.

• Item – The name of the item
• UN – The stocking unit of measure
• Current Standard – The current standard costA standard cost is a user defined/assigned fixed cost for an item of the product
• New Standard – The new standard cost of the item based on the changes entered to the default cost selected
• % Chg – The percent change from the old standard cost to the new standard cost
• Inventory cost – The current weighted average cost for the item, excluding lots on hold
• Purchase Order – The cost of the item recorded on the last purchase order, adjusted for the raw material item and standard yield.

4. Users can enter new standard costs manually by selecting the item from the list and entering the new standard cost. Enter 9999 as the standard cost and place the item on selling hold in Sales Orders. Press F10 to display command options to assist in calculating/replacing the standard cost.

• Chg – Select Chg to return to the Replace Current Standard Cost window and manually enter the new standard cost. The system will allow the user to make changes to the New Standard cost field. Press F10 and select Update to save the new standard cost. The following message will appear: "WARNING: Standards will be changed!!! Continue? No/Yes."
  • Select no to return to the Replace Current Standard Cost window.
  • Select yes to update the new standards.
• Actual – Select Actual and the system will apply the actual cost of the item(s) as the new standard cost of the item(s). The following message will display: "Preserve existing selling holds? No/Yes."
  • Select no to remove the existing selling hold. Once the system executes this option the user will have access to the New Standard cost column so that changes can be made, if necessary. Press F10 to confirm your edits and/or to leave the Replace Current Standard Cost window and return to the command options.
  • Select yes to keep the current standard cost as 9999 and place the item on selling hold.
• PO – Select PO and the system will apply the last purchase order item cost(s) as the new standard cost(s). The following message will appear: "Preserve existing selling holds? No/Yes."
  • Select no to remove the existing selling hold. Once the system executes this option the user will have access to the New Standard cost column so that changes can be made, if applicable. Press F10 to confirm your edits and/or to leave the Replace Current Standard Cost window and return to the command options.
  • Select yes to keep the current standard cost as 9999 and place the item on selling hold.
• Standard – Select Standard and the system will apply the current standard(s) as the new standards cost(s). The following message will appear: "Preserve existing selling holds? No/Yes."
  • Select no to remove the existing selling hold. Once the system executes this option the user will have access to the New Standard cost column so that changes can be made, if necessary. Press F10 to confirm your edits and/or to leave the Replace Current Standard window and return to the command options.
  • Select yes to keep the current standard cost as 9999 and place the item on selling hold.
• Update – Select Update to save the new standards entered. The following message will display: "WARNING: Standards will be changed!!! Continue? No/Yes."
  • Select no to return to the Replace Current Standard window.
  • Select yes to update the new standards.
• Print(X) – Select Print(X) and the system will generate a report that list the changes made. Enter the desired tolerance or percentage change to use to filter the report. Command options will appear allowing you to print or choose from a set of other print options.
• Exit – Select Exit and the system will leave the Adjust Standard Costs option without saving any changes and will bring you back to the first Select An Option window.

Important: Your changes will not be saved unless you select Update.

Security Required : Inventory - Standards - Costs