Tag Archives: Standard cost

Difference between Standard cost and Average Cost in Sage 300

Inventory is one of the factors that you can control to improve your small business profitability. Inventory is the largest current asset for any business and proper measurement of inventory is important to assure financial statement of the business. Inventory levels can have a direct effect on a cash flow. The way you source and… Read More »

Cost Variance Analysis in Sage 300 ERP

Cost Variance analysis is control system that is developed by organizations to detect and correct variance from expected level in Inventory costs. Variance analysis is usually associated with derived difference between actual cost and the standard cost defined by organization for good output. There can be multiple factors contributing to form these variances like, Difference… Read More »

Standard cost functionality in Sage 300 ERP

Standard costing is an important aspect of cost accounting.Standard costs are usually associated with company’s cost of direct material, Consumables, Direct labor and overhead. Rather than taking actual cost of direct material, Consumables, Direct labor and overhead many companies prefer taking expected or standard cost in their books of accounts. By adopting standard costing method,… Read More »