Product Cost Formula Calculator Product Cost - if the component is a bought-in product, the component product cost will be equal to the component bought-in cost. Click to view screenshot images of the template. Costing - view a detailed product costing for any manufactured product by selecting the appropriate stock code from the list box in cell A4. The columns with light blue column headings contain formulas that are automatically copied for all new stock codes that are added to the Excel table. That is excellent, thank you very much for an extremely well designed excel sheet. Level5 Forecast - the stock quantities of all bought-in and intermediate products that are required in order to produce the Level4 Forecast quantities that have been calculated in the previous column will be included in this column. These stock codes should be seen as cost centre codes instead of stock codes which are represented by physical stock on hand. BOM - link each manufactured product to the appropriate stock components on this sheet. If an orange cell background is displayed in any cell in column I, the appropriate component needs to be deleted from the BOM sheet in order to correct the duplication. Refer to the What-If Costs section of these instructions for more information on the what-if cost analysis feature. Enter your name and email in the form below and download the free template … Suitable for any type of manufacturing business, Create stock codes for all bought-in and manufactured products, Enter purchase prices and what-if costs for all bought-in products, Create bills of material for all manufactured products, Automated calculation of costing for all manufactured products, Includes requirements planning and stock usage forecast, Gross profit margins based on product and what-if costings, Accommodates multiple level bills of material (up to 7 levels). Note: You may also want to consider entering a calculation in the input quantity column because this approach may make it easier to determine how the input quantity has been calculated (if a calculation has been necessary). We have therefore implemented conditional formatting on the Costing sheet in order to highlight all duplicated components in orange in column I. Markup Price for company X is calculated using below formula 1. Note: The contents of the BOM sheet have been included in an Excel table. This template enables users to compile product costings for all the manufactured products that are produced by a business. A yield of 95% is therefore entered even though we used the Input basis in determining the appropriate component input quantity. The following user input is required in the columns with yellow column headings: Product Stock Code - the stock code of the manufactured product to which the stock component should be added needs to be selected from the list box in this column. Note that only the intermediate product quantities that are included in the previous column will have an effect on the calculations in this column because bought-in items contain no components. What-If Cost - if the component is a bought-in product, the component what-if cost will be equal to the component bought-in what-if cost. It is therefore important to take the yield basis into account when determining the component input quantity that needs to be entered in column C. Example: If we use minced meat in the manufacturing of a beef burger, we have to decide on a yield basis before we can determine the appropriate input quantity that should be specified. The what-if costs are calculated and included in the what-if costings based on the what-if purchase price that is specified in column E on the StockCode sheet and the component input quantities and yields that are specified on the BOM sheet (the same input quantities and yields that are used in the product costings). * By submitting your email address, you consent to receive email messages (including discounts and newsletters) regarding Corporate Finance Institute and its products and services and other matters (including the products and services of Corporate Finance Institute's affiliates and other organizations). Quantity forecasts can be compiled by simply specifying the stock codes of the appropriate manufactured stock items in column A on the Forecast sheet and entering the quantities of each manufactured stock item on which the forecast should be based in column E. Note: The contents of the Forecast sheet have been included in an Excel table. The purpose of each of these columns is as follows: Error Code - the formulas in this column display an error code if there is a problem with the data that has been entered in any of the user input columns. Use these Free Templates or Examples to create the Perfect Professional Document or Project! Quantity Forecast - the formulas in this column calculate the stock quantities that are required in order to produce the finished goods quantities that are entered on the Forecast sheet. Note that even though labour is not actually a stock item, we also assign a stock code to labour cost in order to include this type of direct cost in the product costings. Free business templates to use in your personal or professional life. Product pricing is a critical step in business. Pricing model is a great tool that helps a business or company in whole process of estimating the price for product or services. Margins - this sheet includes a comprehensive analysis of selling prices, product costs, what-if costs and gross profit amounts and percentages. If any error codes are reflected in this column, the errors should be investigated and rectified in order to ensure that all template calculations remain accurate. Component Stock Code - a component stock code needs to be selected from the list box in column B for each component that is used in manufacturing the product which has been selected in column A. Level4 Forecast - the stock quantities of all bought-in and intermediate products that are required in order to produce the Level3 Forecast quantities that have been calculated in the previous column will be included in this column. LeadDoubler – LeadDoubler is a web-based software that will allow you to turn the raw .xls (Excel file) into a beautiful and fully-functional online calculator. As far as accounting is concerned, the product costs of the sold products are captured in the income statement, while that of the unsold product is reflected in the inventory of finished goods. Your products have simplified the basics of accounting for small businesses who just start out and entrepreneurs, I absolutely love it. You might like these other Costing & Inventory templates. Customize the … The cost of a manufactured product is calculated based on the costs of all the components that have been linked to the product on the BOM sheet. Enter your name and email in the form below and download the free template now! Note: The selling prices that are entered in column E should be exclusive of sales tax if the business is registered for sales tax purposes. Contains the what-if cost - this column Forms part of the product costing for any manufactured product and its on... Costing in the form below and Download the trial version ( xlsm ) described as a manufactured product a. 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