Alternative to standard cost accounting that enables you to assign the costs incurred in the period directly to your materials.
Materials are valuated at a preliminary standard price which is then adjusted to reflect the difference between the preliminary price and actual cost.
Each transaction that is relevant to valuation (such as a goods receipt, invoice receipt, or production order settlement) records the preliminary standard price and the variances against that price (such as price differences and exchange rate differences). At the end of the period, you assign these variances to the material inventories and consumption of the previous period Across multiple production levels. Material valuation is therefore based on the periodic actual costs.
More terms such as actual costing in Dictionary A.
- Manual Agriculture Duty:
- Help A duty levied for agricultural merchandise or for certain processed products based on special regulations actual costing definition.
- Manual Attribute (AP-BE):
- Help that describes an object or entity in greater detail, and influences the way in which the object or entity is processed. In a Billing Engine Application (BEA), attributes describe entities and actual costing explain.
- Manual Absence Valuation:
- Help rules that determine how employee absences, such as leave and illness are treated in payroll. The specifications processed in this step are used to compensate absences and are available for running actual costing what is.
- Manual Automatic Inversion Prior Periods:
- Help in the current period of documents that have been posted by cumulative-posting consolidation tasks in previous periods. Automatic inversion prior periods is a part of task execution actual costing meaning.
- Manual Accommodation Category:
- Help Planning characteristic for a room or bed location that categorizes the type of room in which a patient is accommodated actual costing abbreviation.
