Standard Costing Templates Version 5.0
Standard Costing 5.0 makes it easy to gather all operating costs together and assign individual or average costs to production or services, and apply overhead recovery including depreciation to each product/service.
Includes benchmarking other company G&A expense ratios to set up an overhead expense reduction budget using Excel.
Costing Basis.
The Asset (equipment) database calculates depreciation/book values and the depreciation rate per hour for each asset in use.
The Materials database calculates material unit costs including the financing cost of storage.
The Employee database holds the remuneration records for all employees by department.
Calculates the full hourly paid rate per employee.
In the Standard Costing calculator spreadsheet you can set up a standard costing budget for any product or service based on:
Budget direct employee hours required to produce or deliver a unit of output/service, the number hours worked and total employment costs.
Budget indirect employee hours required to support (indirectly) the production or delivery of a unit of output/service, the number indirect hours worked and total employment costs.
Raw materials used to produce or deliver the unit of output, the current cost rates and total material costs.
The equipment hours used to produce or deliver a unit of output/service, the hourly depreciation rate and the full allocated cost of depreciation.
Allocation of overhead costs based on either: employee hours worked, or equipment (machine) hours required, or sales value as percentage of total sales value output.
The user selects which overhead allocation method they wish to apply to their standard costing calculations.
Standard Costing will automate and simplify your calculations of standard costs for any product of service based on:
Budgeted Direct hours worked.
Budgeted Indirect support hours support
Budgeted material costs (including inventory costs if you wish)
Budgeted utilization of fixed asset costs/depreciation costs
Budgeted overhead/fixed cost allocation
You can choose from three options to calculate the overhead allocation rate:
Per employee hour worked.
Per equipment hours worked.
Per $1 sales output value.
Calculate standard costs by entering the volume (batch size) used to budget the number of direct and indirect hours worked, the budgeted value of materials consumed, and the number of equipment hours into D3. Enter the price into D4 of the Costing calculator page.
To adjust prices to achieve the target profit margin, change the price level in D4 until the margin percentage in D8 is the value you want.
If you would like to receive a demo tutorial version of the program, please just ask. We can add this to your download page.
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