OPM Cost Elements/Details Form
The OPM Cost Elements form will allow the user to enter information relating to the Cost information earlier specified in the above section.
All fields in this form require a value.
To navigate to the prior form click the <<Header button on the bottom of the form.
In both user forms if values from the spreadsheet do not collate with the validation the forms will specify errors in the form needing to be remedied.
Fields
Cost Level
Level at which the Component Class is set. This can either be ‘This Level’ or ‘Lower Level’.
Rate or Amount
Cost/Rate of the Component.
Usage Type
The unit cost of an item is usually broken down into several buckets that are attributed to various sources that form the basis of the cost, for detailed tracking and analysis purposes. The cost component classes are classified into five different elements or usages: Material, Resource, Overhead, Expense Allocation and Standard Cost Adjustment types.
Cost Analysis Code
An individual component cost identified by a particular cost component class can be further broken down using cost analysis codes for more granular tracking of costs. The cost analysis codes are used to group component costs from multiple cost component class types, to provide an alternate view of the total cost.
Component Class Code
Cost Component Classes identify individual buckets or component costs that make up the total cost e.g. Direct material costs, freight costs, labor costs and production, or conversion costs and so on. Any number of cost component classes can be defined and used to break down item costs.
The Component Class Code field will only populate once a Usage Type is specified as to ensure data accuracy.
Refer to section: