The challenge in cost accounting is tracking your manufacturing to the levels needed for useful management information. You need feedback for corrective action; but, you need to minimize the cost of collection. Some parts of your operation require specific job-cost tracking while the Just-in-Time areas require
costing in terms of cost per process hour or day. Apply overhead in different ways to different processes and products. Segregate costs into enough detail
to provide management with an accurate picture of the contents of your product. Material, material overhead, labor, fixed overhead, variable overhead, outside processing, outside processing overhead, and so forth all have to be considered.
LX meets your cost accounting needs with the following functionality:
â–Ş Four sets of costs: actual, standard, frozen standard, and simulated
â–Ş Nine user-defined elements per set
â–Ş Full and partial cost roll-up and simulation
â–Ş Cumulative in-process cost tracking
â–Ş Cost summaries by item
â–Ş Cost definition tied to work centers or material type
â–Ş Process hour costing