Implementing Manufacturing and Materials Management: From Empty Plant to Costed Work Order · Module 17 · Cost Processing and Close
Lab: close the period and prove the number
Lesson 182 of 188 · 2 min
An hour and a quarter, and the eighth deliverable is what the whole course has been building toward. Both transfer processes run and scheduled. The distributions run control configured, the period opened, the process run. Accounting created in draft, reviewed, then final. A written line-by-line explanation of the accounting for one completed work order — in plain language, for a controller. A deliberate material over-issue producing a usage variance, identified and traced to its transaction. Full variance analysis for two work orders, with a written explanation of the largest variance and whether you would blame the plant or the standard. The cost accounting period closed, following the checklist. Then a completed GL reconciliation working paper showing inventory value agreeing between the subledger and the general ledger. And a deliberate reconciliation break, created, diagnosed along the processing chain, and resolved. Five acceptance criteria, and three are about explanation rather than configuration.…
The full lesson is part of the course
The video, the complete written lesson and the module quiz are included in Implementing Manufacturing and Materials Management: From Empty Plant to Costed Work Order, with a certificate on completion and a fourteen-day refund window.
In this module: Module 17 · Cost Processing and Close
- 1From transaction to journal
- 2Transferring transactions to costing
- 3Creating cost accounting distributions
- 4Creating accounting
- 5Reading the accounting
- 6Work order variance analysisFree preview
- 7Cost accounting period close
- 8Reconciling to the general ledger
- 9What breaks
- 10Lab: close the period and prove the number