Job costing is an accounting method in which actual numbers are compared to the estimated or quoted numbers, and we are going to take this post to discuss the advantages to using this system with every project completed in your business. A job can be a project, a single product, or a batch of similar products that are produced together. Once we have the direct materials and labor and the allocated overheads, we can prepare a Job Cost Sheet.
Through this you can also manage plumbing, electricity, mechanic job costing daily to weekly basis. Multiple construction project costing template XLS Download sheet. Posted: 6 days ago Building a product costs sheet is not at all a difficult task to do, however, with the readymade templates available online, you can easily edit the template and use as per the business requirements. Given are the best examples, consider them. Product Costs Examples …. The customized Excel spreadsheet form shown above helps the author review his ongoing labor and materials cost for each job on a weekly basis.
This is a spreadsheet in excel to calculate your total cost of labour. It's a template and so can be tailored for your needs. It can be used in two ways to raise awareness of your true labour costs and to improve your profitability: 1. Enter total hours worked and what each team member is paid hourly.
This article discusses the benefits of using a Construction Job Cost Job card is one of the most useful and important document for customer. It helps in building customer trust and confidence on company which ensure more jobs from him in the future. To make it cost effective and useful it is prepared in Microsoft excel.
The table is usually divided into two main File Format. Size: This Excel forecast template is a set of useful guidelines which can help you to understand the working of Excel and Microsoft Office in making spreadsheets for various calculations and estimates. Going over budget on a construction project can wipe out your profits and put you in the red.
Each section shows the number of units, price per unit, and total cost for each item or task. The template will then automatically calculate subtotals and display the total estimated project cost at the top of the template. Enter rates and quantities for each item, and the template will automatically calculate total costs, including tax. The template also includes a tracking number, space for describing the project or work to be performed, and signature lines.
Posted: 5 days ago Download templates for product costing, bill of material, job costing, inventory control, stock management and more. The JReview sheet accommodates a maximum of three products which can be linked to a single job but you can customize the sheet to include more products by inserting the appropriate number of rows below this section and copying the formulas in row 6 into the appropriate number of new rows.
This section includes the stock code, description and unit of measure UOM of each manufactured stock item as well as the quantity to make quantity required on the JSetup sheet , quantity received, job balance, standard value total receipts at standard unit cost , standard unit cost, actual unit cost and the cost difference percentage.
The actual unit cost is calculated by dividing the total actual cost by the quantity that has been received. Note: The actual unit cost can only be calculated if a single product is linked to a single manufacturing job. The components issued section on the JReview sheet will include all components which form part of the bill of material of the manufactured product s that have been included in the job as well as any components which do not form part of the bill of material but for which job issue transactions have been included on the JDetails sheet.
The components will be listed in the same sequence as they are included on the StockCode sheet and the stock code, description and unit of measure UOM of each of these components will be included in columns A to C. The component quantity required is calculated based on the bills of material and the required quantities which are entered for each manufactured product on the JSetup sheet. The values in this column can be used for requirements planning purposes on a single job level. The usage section includes the total standard quantities which needed to be issued, the total actual quantities which have been issued by recording job issue transactions on the JDetails sheet, the quantity difference and a value difference which is calculated based on the standard cost per unit.
The standard quantities issued are calculated based on the bills of material on the BOM sheet and should equal the required quantities if the job balances for all manufactured products are nil.
The price section includes the component standard costs per unit, the component actual costs per unit which is calculated based on the actual unit costs that have been issued on the JDetails sheet, the unit price difference and a price variance value which is based on the actual quantities issued. The total value section includes the total standard value, the total actual value and the difference between the standard and actual values per component.
Note: The variances in the usage, price and total sections will contain positive values if the variances are positive meaning that the actual cost is lower than the standard cost and vice versa. Note: The JReview sheet accommodates a maximum number of 30 components per job but can be extended to include additional components by simply copying the formulas in the last row row 39 into the appropriate number of additional rows.
The job totals section includes the total standard value of the job, the total actual value of the job, the difference between the standard and actual values, the total usage variance, the total price variance and a control total check. Note: If the control total check cell contains an error, it means that the total usage and price variances do not add up to the total job variance.
The error can be resolved by checking all the other sheets in this template for error codes in the Error Codes columns and if the error still persists, you can contact our Support function for assistance.
The material requirements planning MRP features that have been added to this template enable users to enter production forecast quantities for manufactured products on the ReqPlan sheet in order to calculate the stock component quantities that are required in order to produce the specified quantities of manufactured products.
The components required for MRP purposes can be calculated by simply selecting the stock codes of the appropriate manufactured products in column A on the ReqPlan sheet and entering the quantities of each manufactured product on which the MRP calculation should be based in column E. You can add additional product codes to the sheet by simply selecting the appropriate product code in the first empty cell in column A - the table will be extended automatically to include the new stock code if necessary.
The columns with light blue column headings columns B, C, D, F and G contain formulas that are automatically copied for all new stock codes that are added to the Excel table. Note: We also recommend entering the forecast date in cell G1 before printing the sheet in order to keep a record of the manufactured product quantities that have been used in all quantity forecasts because once you replace the quantities on this sheet with new forecast quantities, there will be no record of the forecast quantities on which the previous forecast had been based.
Note: Before using the requirements planning feature, you should ensure that all your product costings are accurate. If you base the production forecast on inaccurate product costings it may result in the incorrect component quantities being ordered from suppliers.
The component requirements in column I to N are calculated by applying the manufactured product forecast quantities that are specified in column A to G to the appropriate components that have been added to the bills of material of the selected manufactured products on the BOM sheet. This calculation is based on the appropriate component input quantity, yield and unit of measure. Note: The BOM level that needs to be used in order to determine whether intermediate products need to be included in the component requirement calculation is determined based on the standard issue level that is selected for the applicable manufactured products in column E on the StockCode sheet.
Note: The component requirements calculation is limited to a maximum of 50 components. If your bills of material contain more components than this, you can add additional components by copying the last row in column I to N which contains data row 56 and paste the formulas into the appropriate number of additional rows. The following error codes may result from inaccurate user input and will be displayed in the Error Code columns of the appropriate sheet. The heading of the affected input column will also be highlighted in orange:.
Note: Input errors may result in inaccurate template calculations and it is therefore imperative that all errors are resolved before reviewing the job costings.
How to use the Job Costing template Download the sample or trial version when reviewing these instructions. Stock Codes The first step in customizing the template for your business is to create a unique stock code for each stock component and finished manufactured product on the StockCode sheet.
The StockCode sheet includes the following user input columns columns with yellow column headings : Stock Code Enter a unique stock code in accordance with the stock code convention that is suitable for your type of business. Description Enter a description of the stock item. STD Unit Price The most important aspect of the standard unit price is that it should be in the same unit of measure as the unit of measure that is specified in the UOM column.
In order to analyse the job on a per product basis, we would therefore need to manufacture windows separately and issue the intermediate product of windows on the JDetails sheet when recording transactions against the job Example: If we select the "All" level for the garden shed manufactured product, the bought-in components of the windows wooden frames, glass and nails will be issued as part of the standard issue calculations.
The following columns contain formulas: Error Code The formulas in this column display an error code if there is a problem with the data that has been entered in any of the user input columns. Product Type This column indicates whether a stock code relates to a stock item that is bought-in from a supplier or to a product that is manufactured.
BOM Type This column indicates which type of bill of material has been added for a product. Product Cost This column contains the product cost of each stock code. Job Qty Required This column contains the component quantity which is required in order to produce the job number which has been selected in cell D1 on the JReview sheet.
Job Std Issued This column contains the component quantity which needs to be issued based on the job receipts which have been recorded on the JDetails sheet and the job number which has been selected in cell D1 on the JReview sheet.
Job Qty Issued This column contains the component quantities which have been issued by recording stock issue transactions on the JDetails sheet against the job number which has been selected in cell D1 on the JReview sheet. Job Review Status This column indicates which components need to be included on the JReview sheet and the status is only used in the compilation of the JReview sheet.
Req Plan Qty This column contains the component quantities which are required in order to produce the products which have been included on the ReqPlan sheet. Req Plan Status This column indicates which components need to be included on the ReqPlan sheet and the status is only used in the compilation of the ReqPlan sheet.
Received Qty The values in this column indicate the total quantity that has been received for a particular stock code by entering job receipt transactions on the JDetails sheet. Issued STD Qty This column indicates the total component quantities which needed to be issued in order to produce the total quantities which have been received as per column P.
Issued Actual Qty This column indicates the total quantity which has actually been issued to a manufacturing job during the applicable date range. Usage Var Qty This is the difference between the standard and actual issue quantities and represents the total usage variance quantities for all jobs that fall within the specified date range.
RecValue STD The values in this column represent the total standard cost value of all stock receipt transactions which have been entered on the JDetails sheet for the appropriate manufactured stock item. IssueValue STD The values in this column represent the total standard cost value of all stock component issues which are required in order to produce the receipted quantities in column P.
RecValue Actual The values in this column represent the total actual cost value of all stock receipt transactions which have been entered on the JDetails sheet for the appropriate manufactured stock item.
IssueValue Actual The values in this column represent the total actual cost value of all stock component issue transactions which have been recorded on the JDetails sheet.
Total Var Value The values in this column represent the difference between the standard issue values and the actual issue values. Usage Var Value The values in this column indicate the total usage variance value for each component. Price Var Value The values in this column indicate the total price variance value for each component. Actual Unit Cost The values in this column indicate what the average actual cost of each component is for the period under review. Bills of Material The purpose of the BOM sheet is to create a link between stock components and manufactured products.
The BOM sheet includes the following user input columns columns with yellow column headings : Product Stock Code The stock code of the manufactured product to which the stock component should be added needs to be selected from the list box in this column. Component Stock Code A component stock code needs to be selected from the list box in column B for each component that is used in manufacturing the product which has been selected in column A.
Input Quantity The input quantity of the stock component that is used in the manufacturing process should be entered in column C. Yield The component yield should be entered in column D as a percentage. Product Description , Product UOM These two columns are included on the BOM sheet to enable users to view the description of the product stock codes that are selected in column A and to ensure that the correct unit of measure is used when entering component input quantities.
Product Level This column indicates the bill of material level which has been assigned on the StockCode sheet for the product stock code that has been selected in column A.
Component Description , Component UOM These columns are included to enable users to view the description of the component codes that are selected in column B and to ensure that the correct unit of measure is used when entering component input quantities.
Component Type This column reflects the type of component that has been selected in column B. Comp Incl Status This column contains the status of a component based on the product level that has been selected and is only used for report calculation purposes. Bought-In Price If the component is a bought-in stock item, the standard unit price of the component which is specified on the StockCode sheet will be included in this column.
Bought-In Cost The bought-in cost of components is calculated by multiplying the bought-in price of the component by the input quantity in column C and dividing the result by the yield in column D. Intermed Comp Cost If the component that has been selected in column B is a manufactured product, the component cost in this column is determined based on the product cost of the intermediate product which is calculated in column Q. Intermed Prod Cost The intermediate product costs of components are calculated by multiplying the intermediate component cost of the component by the input quantity in column C and dividing the result by the yield in column D.
Product Cost If the component is a bought-in product, the component product cost will be equal to the component bought-in cost. Actual UnitCost If the component is a bought-in stock item, the actual unit cost of the component which is calculated in column AA on the StockCode sheet will be included in this column. Actual Comp Cost The actual component cost in this column is calculated by multiplying the actual unit cost of the component by the input quantity in column C and dividing the result by the yield in column D.
Intermed Actual Cost If the component that has been selected in column B is a manufactured product, the actual intermediate component cost in this column is determined based on the actual cost of the intermediate product which is calculated in column V. Intermed Total Cost The actual intermediate costs of components are calculated by multiplying the actual intermediate component cost in the previous column by the input quantity in column C and dividing the result by the yield in column D.
Actual Prod Cost If the component is a bought-in product, the component actual cost will be equal to the component actual unit cost. Level1 TotIssued to Level6 TotIssued These columns are used to calculate the standard issues of all bought-in and intermediate products based on the received quantities of all manufactured products that have been entered on the JDetails sheet. Level1 JobRequire to Level6 JobRequire These columns are used to calculate the standard issues of all bought-in and intermediate products based on the required quantities on the job that is currently selected on the JReview sheet.
Level1 JobReceipt to Level6 JobReceipt These columns are used to calculate the standard issues of all bought-in and intermediate products based on the received quantities of the job that is currently selected on the JReview sheet.
Level1 ReqPlan to Level6 ReqPlan These columns are used to calculate the standard issues of all bought-in and intermediate products based on the production forecast quantities of all manufactured products that have been entered in columns A to G on the ReqPlan sheet. Job Set-up All manufacturing jobs need to be set up on the JSetup sheet by assigning a unique job number to the job, entering a date, selecting the appropriate stock code s for the manufactured items that need to be produced and entering a required quantity for the manufactured stock item.
The JSetup sheet includes the following user input columns columns with yellow column headings : Job No Enter a unique job number in this column. Date Enter the date on which the job is completed in this column and repeat the date if multiple manufactured products are linked to the same job.
Stock Code Select the stock code of the product that is being manufactured in this column. Qty Required Enter the quantity that is required to be made in this column. Stock Description The description of the stock code which has been selected in column C is displayed in this column. Product Type This column contains the product type of the selected stock code.
Qty Received The total quantities received for the stock code in column C and the job number in column A is displayed in this column. Job Balance The difference between the required quantity and received quantity is indicated in this column.
Actual UCost The actual unit cost of a product is calculated by dividing the total job issues on the JDetails sheet by the quantity that has been received. STD Value The standard value is calculated by multiplying the quantity received by the standard unit cost and represents the total standard cost value that has been received on the manufacturing job. Job STD The job standard equals the standard value of the job when only one product is linked to each manufacturing job. Job Actual The total actual cost of the job will be displayed in this column.
Job Var The difference between the standard job cost and actual job cost is displayed in this column. Job Usage The job usage variance is calculated in this column. Job Price The job price variance is calculated in this column. Job Date The job date is determined based on the date that has been entered in column B. JUnique This column contains a value which is used in order to determine whether the template needs to be set to the multiple or single product per job mode. Job Transactions All job related transactions must be entered on the JDetails sheet by entering a job number, selecting a transaction type, selecting the appropriate stock code and entering a transaction quantity.
The JDetails sheet includes the following user input columns columns with yellow column headings : Job No Enter the job number to which the job transaction relates. Type Select the transaction type from the list box. Stock Code Select the appropriate stock code for the transaction from the list box. Quantity Enter the transaction quantity. Cost PU If you want to override the standard unit cost with an actual cost, enter the actual cost of the component in this column.
Job Link Enter the job number to which a manufactured product's actual cost should be linked. Description The description of the stock code which has been selected in column C is displayed in this column. STD Cost The standard unit cost of the stock code which has been selected in column C is included in this column. Unit Price The actual unit price of the transaction will be included in this column.
TrnValue The transaction value is calculated by multiplying the quantity in column D by the unit price in column M. Price Var The price variance values in this column are calculated as the difference between the standard unit cost and the actual unit price.
Job Date The job date is specified when creating a job number on the JSetup sheet. JobLink Cost If a job link has been specified for the selected stock item in column G, the job link cost is included in this column. Avg Actual If the job issue transaction type has been selected in column B, a manufactured intermediate product has been selected in column C and the manufactured product has been produced previously, the average actual cost of all previous manufacturing jobs will be displayed in this column.
FG Code The manufactured product which has been linked to the appropriate job number will be included in this column. Job Review The JReview sheet can be used to review individual job costings. Requirements Planning The material requirements planning MRP features that have been added to this template enable users to enter production forecast quantities for manufactured products on the ReqPlan sheet in order to calculate the stock component quantities that are required in order to produce the specified quantities of manufactured products.
Error Codes The following error codes may result from inaccurate user input and will be displayed in the Error Code columns of the appropriate sheet. The heading of the affected input column will also be highlighted in orange: E1 - this error code means that a duplicated stock code has been entered in the appropriate row. The error can be corrected by simply deleting one of the duplicated entries.
E2 - this error code means that the standard unit price input in column D on the Stock Code sheet is incorrect. A standard unit price should be entered for all bought-in stock items but is not required for manufactured products. When adding new manufactured stock items to the StockCode sheet, this error code will be displayed until the appropriate components have been added to the BOM sheet. The error can therefore be corrected by adding a standard unit price for a bought-in stock item, adding components to a manufactured stock item or deleting a standard unit price that has been specified for a manufactured product.
E3 - this error code means that the product stock code that has been specified is invalid. Stock codes must be created on the StockCode sheet before being used on any of the other sheets and the error can therefore be corrected by simply creating the appropriate stock code on the StockCode sheet.
If a stock code has been deleted, this error code will be displayed in all the rows on the other sheets that still refer to the stock code. These entries must be deleted or a valid stock code needs to be selected in the appropriate column.
E4 - this error code means that the component stock code that has been specified is invalid. If a stock code has been deleted, this error code will be displayed in all the rows on the BOM sheet that still refer to the stock code.
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Job Cost Controller spreadsheet is very useful to find out exact job expenditure efficiently and improve your profit margin. This estimating sheet facilitates the contractors as well as project managers to track the costs of the construction category wise. Excel Details: Format: Excel.
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