Job Order Costing JOC
Set your manufacturing costs standards, track your actual manufacturing costs, and see what are the variances against the standards that you’ve set in your three costing elements: Direct Materials, Direct Labor, and Manufacturing overhead MOH.
- You can specify many production lines and production plants.
- Use a bill of materials BOM that gives you the ability to:
- Define phases of production.
- Specify which material is added at which phases.
- Manage joined products and spoilage.
- Allocate direct Labor and MOH amongst joined products.
- Specify different production units for different production lines.
- Specify substitute materials with easy to use method for them at any of the production phases.
- You can generate multiple finished goods delivery invoices on one job order.
- You can generate serial numbers for finished products.
- You can generate batch numbers (LOT) for finished products.
- You can generate expiry date for finished products.
- You can connect each plant to a department in Al-Ameen HR to automatically supervise employee attendances and per hour cost, and support users with simple tool that assists them to allocate direct labor amongst job orders.
- The ability to settle the underapplied or overapplied MOH according to the three generally accepted methods:
- Direct write off to COGS.
- Re-generate MOH per actual allocation base
- Use a group of reports to supervise job orders costs’ allocation amongst phases and costs elements.
- Apply statistical methods in determining manufacturing costs behavior (Fixed, Variable, and Mixed Costs) using functions such as R. Squared RSQ, Slope, and intercept statistics.
- Track waste in raw materials per job order, per entity, or per plant against:
- BOM or modified BOM Standards along with quantity or price variances.
- Phases raw materials wastes defined by machines counters (Mix, filling, milling, assembling, packing, etc.).
- Monthly analyze of production cost of an SKU or Group of SKU through its three cost elements with sufficient quantity or price variances.
- The ability to review the details of goods in process account at any time.