The Cost Variance Analysis SuiteApp analyzes variances during the processing of work orders. These variances are the differences between the planned values and the actual values recorded for quantity and cost in work orders. This SuiteApp also enables you to do the following: ■ Measure the performance of work orders and act toward preventing cost overruns. ■ Review cost variances by work order, cost type, and operations.
The SuiteApp includes the following subtabs on the Cost Variance Analysis page:
- Measure the performance of work orders and act toward preventing cost overruns.
- Review cost variances by work order, cost type, and operations.
The SuiteApp includes the following subtabs on the Cost Variance Analysis page:
- Component – Displays planned material costs, actual material costs, and cost and quantity variances for each work order component. You can use this information to analyze cost overruns.
- Conversion Costs– Displays cost variances for manufacturing operations. You can use the details on this subtab to understand any cost overruns that occur in any step of the manufacturing process for an item.
- Cost Category – Displays the cost breakdown and variances by cost types for a work order.