Standard and Actual Cost - what's the difference ?

Aan 

so what is the difference between standard cost and estimate cost?

is it not both the same thing, material and operational labour costs

regards

jamie

@jamiewhite Standard Cost retrieved from the part cost. But Estimate Cost is based on the Shop Order material and operation costs. For example, if you add new material or an operation to the Shop Order it will considered in calculating the Estimate Cost of that Shop Order. 

Another example would be, say Structure and/or Routing has changed and Part Cost not calculated based on the new Structure and/or Routing changes. So Shop Order estimate cost will calculate based on the new changes fetched from the Structure and Routing, but the Standard will be the same.

Estimate cost is the estimate for that Shop Order based on the cost contributors in that Shop Order.

In other words if the cost contributors for Part Cost (Standard Cost) and Shop Order Estimate cost, are different then you will see different figures in Standard Cost and Estimate cost.

Hi all!

Just to add a detail to the Standard Cost in the shop order cost screen: If you for example look at an old closed shop order from beginning of 2021, system retrieves standard cost from Part Cost History - the standard cost that was valid when the shop order was closed. And that is nice :-)

Cheers,

Mats