Navigation Path: OPM Financials >> Cost Management >> Setup >> Method Codes
Steps:
1.
Enter the cost
method code that identifies the costing method.
2.
Enter a brief
description of the cost method.
3.
Select the cost
method type that you are defining i.e. Standard Cost or Actual Cost.
4.
Select the Usage as General use or else Lab use. The
general usage method is set by default. If
you set the usage to general use,
the cost rollup considers only the production and costing recipes. If you set
the usage to lab use, the lab recipes are used over the production or costing
recipes. The usage field is valid only for the standard cost type. If you are
using the actual cost type, then this field is disabled.
5.
Raw Material
Calculation Type can only be
access if you are defining the Actual Costing method in the Cost Type field.
Indicate the type of raw material cost calculations that will occur for this
actual costing method.
6.
Product Calculation Type can only be access if you are defining
the Actual Costing method in the Cost Type field. If you want OPM to derive
actual costs for product components, indicate the type of calculations it
should perform.
7. Save
the screen.
