Enables detailed labor and overhead rates to be assigned workcenter by workcenter.
Delivers a “closed period adjustment” option whereby corrections made to a closed period will automatically roll forward to update any subsequent closed period.
Enables you to roll costs easily, with just the click of a few buttons.
Calculates price variances for purchased and manufactured parts.
WinMAGI capabilities include:
Cost development.
Cost simulation (what if material costs drop 2% and labor costs go up 12%, etc.?)
Compare one costing method to another.
Side-by-side cost comparison of products.
WinMAGI supports a variety of costing methods, including:
Average actual costing
Add-on costing
Hybrid costing
Hybrid Costing Capabilities Hybrid costing enables users to assign any of the other costing methods on a part by part basis instead of system wide. This enables accountants to cost products the way they've always wanted. Options include:
High volume, repetitive parts can be assigned standard costing.
Low volume parts can be assigned actual costing.
Parts subject to large price fluctuations can be assigned average actual costing.
Parts subject to dock fees, brokerage fees, inspection fees, etc. that must be separated from the price of the parts can be assigned add-on costing.
WinMAGI’s costing methods use the following data:
Material cost
Labor cost
Labor overhead cost
Machine overhead cost
Purchased services cost
Scrap cost
Here’s more: For any costing method, WinMAGI will maintain a complete history of the inventory value of finished goods, work-in-process, raw material or any other category you create to manage inventory. This can be viewed by date range and drilled down to specific quantities of specific parts on specific days.
