View Test Case

TC-08097 : Change existing labor rate

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Process Area : F&A

Steps To Execute

Role: Kimray Cost Supervisor, Kimray Cost Accountant
Navigate to Financial > Lists > Items
Select the filter for Type = Other Charge.  Click Edit on the item you wish to update (i.e. Labor Run - $27)
Update the Purchase Price to the desired rate.  Since Rates are incorporated in the Item Name, you may also want to update the Item Name.  Save.
The new rate will take effect on subsequent Planned Standard Cost Rollup and Revalue Inventory Cost submissions.

Expected Results

to ensure proper valuation of raw materials or purchased goods transformed via machining operations.