SAGE 100c 2021.2 Advanced
Production Management Work Ticket Close
Does anyone use FIFO valuation on Items and close work tickets using standard close method?
Our standard cost in Item Maintenance is slightly higher than Actual build cost and the register reports have Inventory Debit, WIP Debit (StdCost - Actual), and Variance Credited for the sum of the Debits which is ballooning the Variance Cost account rather quickly.
If you process like this how do you handle the variance? 100% JE back to WIP weekly?
Looking for suggestions so we dont have to use STD Cost Item Valuation but book Standard cost layer during close instead of Actual/Planned/Budget.
