MRP - Manufacturing & Shop Floor

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Overview
- Manufacturing Basics 20 xp
  - Quiz
- Manufacturing Order & Work Order Basics 40 xp
  - Quiz
MRP Basics
- Bill of Materials Basics 40 xp
  - Quiz
- Work Center Basics 40 xp
  - Quiz
- Work Center Controls & Parameters 40 xp
  - Quiz
- Using Several Work Centers 60 xp
  - Quiz
- From Sales Order to Manufacturing Order 40 xp
  - Quiz
- Subcontracting: Resupply Vendors 10 xp
  - Quiz
- Subcontracting: Dropshipping 10 xp
  - Quiz
Manufacturing Orders
- Manufacturing in One Step 40 xp
  - Quiz
- Manufacturing in Two or Three Steps 40 xp
  - Quiz
- Work Order Dependencies 60 xp
  - Quiz
- Manufacturing with Backorders 40 xp
  - Quiz
Advanced Processes
- Managing Equipment Maintenance 40 xp
  - Quiz
- Make-to-Order Manufacturing (MTO) 40 xp
  - Quiz
- By-Products 40 xp
  - Quiz
- Scrap Orders 40 xp
  - Quiz
- Manufacturing with Product Variants 40 xp
  - Quiz
- Engineering-to-Order
Shop Floor
- Shop Floor Overview 60 xp
  - Quiz
- Process an MO 10 xp
  - Quiz
- Manufacturing Time and Costs 10 xp
  - Quiz
- Manage Components 10 xp
  - Quiz
- Processing Returns for Repairs 40 xp
  - Quiz
Costing
- Costing: Overview 40 xp
  - Quiz
- Costing: Average Costing Method 40 xp
  - Quiz
- Costing: Standard Price 40 xp
  - Quiz
- Costing: First In, First Out 40 xp
  - Quiz
Planning
- Use the Master Production Schedule 80 xp
  - Quiz
- Manufacturing Efficiency 40 xp
  - Quiz
- Manufacturing Lead Times 60 xp
  - Quiz
- Replenishment Methods for Manufacturing 60 xp
  - Quiz
- Manufacturing Planning 60 xp
  - Quiz

Costing: Average Costing Method

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In this video, learn how to use the Average Cost costing method through the Manufacturing Application.
0:00 - Introduction

1:13 - Set up work center

3:27 - MO for $80 table

4:14 - Reorder expensive components

6:07 - MO for $110 table

8:44 - Conclusion

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1. How is the Average Costing method calculated?

By updating the cost of the product to the most recent cost of the last product purchased. By taking the average cost of the units in stock and the units received into stock. This cost is updated as the new product cost. By using the cost of the first product received into stock. This is updated as the cost on the product template. By using the cost of the last product received into stock. This is updated as the cost on the product template.

2. If I manufacture the following two tables for the first time, and there are no other tables in stock, what will the final product cost be if I’m using the average costing method for the Table? Table 1: $200; Table 2: $220

$200 $210 $220 $240

MRP - Manufacturing & Shop Floor

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Costing: Average Costing Method