Purpose of the program:
The purpose of the Costing program is to determine the total cost of products (production, administration, sales and financial), to compare standard cost with actual figures and then to calculate and interpret the variances.
The object of costing in any Industrial Unit is to determine the actual cost of each industrial product and to analyse it in order to draw useful conclusions for the rational management of the business and the optimisation of its results.
The Management of every Industrial Unit is troubled by the following questions
Knowledge of Cost is a basic tool for managing
Cost Reduction is a constant necessity for every Industrial Business, as the pressure of competition demands that not only expenses be tackled but also that immediate action be taken to improve efficiency in every area of the business.
The COST software is used to determine the total cost of products, with the final result being a multi-page report with the full costing details, texts, calculations and charts, produced automatically from a built-in template, ready for use.
With the COST software, one can create in the best, easiest and cheapest way a successful and reliable costing.
Who it is for
The program is intended for the Costing departments of businesses, Entrepreneurs, Finance directors, Business Consultants, Economists and good Accounting-Tax firms. Particularly suitable for use in education.
Main functions and results:
Essential calculations:
Analyses and calculations for decision making:
The results of the program
A. Standard costing
After the calculations, the program gives the product cost sheet in a table showing the production, sales, administration and financial cost centres, with the items split in detail into fixed and variable, and the final cost both as a total and divided into fixed and variable.
Besides the final cost, the program prints a series of tables with data on materials, final and intermediate products, production departments, routings, production budgets, expenses etc., as well as chart presentations of all the data.
B. Actual costing
After the actual costing calculations, the program gives the cost sheet again, presenting both the standard and the actual costing as well as the variances.
Interpreting the variances is one of management’s most important actions, as it leads to decisions.
Among the wealth of printouts there are detailed ones for variances in materials, direct labour etc., tables of performance indicators and of other indicators such as production volume, efficiency, capacity and average direct labour provided.
All the above is presented in detail and in chart form.
Special treatment is given to the break-even point, both per product and for the unit as a whole.
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