Updating standard cost
After a period, say one month, the company compares the actual cost incurred per unit, say .05 to the standard cost and determines whether it has succeeded in controlling cost or not.
At this point there is only one way to suggest new standards—to adjust the old standard up or down based on a percent.
I actually customized the Part Maintenace UI and added one of the user defined fields to it.
I then populated that field with the Last Cost using a VB program.
Bruce Butler Information Systems Manager [Non-text portions of this message have been removed]Use Last Cost as the costing method for the set of purchased Parts you described as Last Cost being most appropriate for your company.
Costing method is a Part Class/Part inheritance model (with Part settings over-riding the Part Class when specified).
Search for updating standard cost:
This gave the buyers a starting point to enter the new standard cost we wanted to use.