Standard Costing Tests

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These tests are designed to verify the Standard Costing features are correct.

Contents

Prerequisites

Use web tools and update the costingMethodId field of PartyAcctgPreference to STANDARD_COSTING.

Test Receiving a Purchase Order

Actions

  • Create a purchase order for 10 MAT_A_COST at $25 and 10 MAT_B_COST at $25 from DemoSupplier for Company. This means overriding their default purchase prices.
  • Approve the purchase order
  • Go to Warehouse > Inventory >> Receive against PO to receive the purchase order

Results

  • Verify that the prices shown on the receipt against PO screen are the standard costs of $9 for MAT_A_COST and $7 for MAT_B_COST, rather than the $25 on a purchase order

Actions

  • Receive and close the purchase order

Results

  • Use Warehouse > Inventory >> Find Inventory to find the inventory items which were just received, and verify that they have unit costs of $9 and $7

Test Manufacturing a Product

Actions

  • Go to Warehouse > Manufacturing and Create a production run to create a production run for quantity 1 of PROD_COST
  • Issue some additional parts for PROD_COST
  • Declare run time of PROD_COST to be 2 000 000 milliseconds of setup time and 4 000 000 milliseconds of run time.
  • Complete a production run and issue PROD_COST to inventory

Results

  • Go to Warehouse > Inventory >> Find Inventory to find the PROD_COST which has just been manufactured, and verify that it has a unit cost of $194, which is its standard cost

Actions

  • Now set the production run to closed.

Results

  • Go to Financials > Ledger >> Find Transaction and verify that a new transaction was created to Debit the manufacturing cost variance account and Credit WIP inventory for the difference between the standard cost and the actual production run costs.

Test Adjusting Inventory Value

Actions

  • Go to Financials > Ledger >> Adjusts Inventory Values for Company.

Results

  • Verify that the "Default Cost" field is set to standard costing by default

Actions

  • Enter MAT_A_COST or MAT_B_COST for product ID and change all the costs to $1.
  • Come back to the screen again and search for same product ID

Results

  • Verify that the "New Unit Cost" column shows the standard costs of each inventory item, which is $9 for MAT_A_COST and $7 for MAT_B_COST, instead of their actual unit costs of $1


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