Standard Costing & Variance Analysis
Standard cost cards with material, labour and overhead variance analysis on production orders
Standard Costing & Variance Analysis
Standard cost cards with material, labour and overhead variance analysis on production orders
Standard Costing & Variance Analysis is a complete standard-costing toolkit for Manufacturing: define a standard cost card per product covering material, labour and overhead, run a full variance analysis against any completed production order in one click, and post the results to a lightweight variance journal for period-close reporting.
Key Features
Standard cost cards per product
One card per product template with standard material component lines (quantity + unit cost per finished unit), standard labour hours and rate per unit, and a budgeted-overhead / budgeted-hours basis for the standard overhead rate, moving through a Draft/Confirmed workflow that locks lines once confirmed.
One-click variance run against a production order
Link one completed Manufacturing Order to its standard cost card and compute material price and quantity variance, labour rate and efficiency variance, and overhead spending and volume variance, all pulled straight from the order's real material consumption and work-order durations.
Guaranteed variance reconciliation
Every run guarantees price + quantity = total material variance, rate + efficiency = total labour variance, spending + volume = total overhead variance, and the sum of all variances equals actual cost minus standard cost allowed for the actual output.
Per-component material variance detail
Each material line shows standard quantity/cost, standard quantity allowed for actual output, actual quantity and unit cost seeded from the order's real done raw-material moves, and its own price/quantity/total variance. Real consumption prices need inventory valuation (stock_account); without it you enter the actual unit cost on the run.
Variance journal posting
Posting a computed run generates one variance-journal line per variance type against a configurable, favourable/unfavourable-tagged variance account, building a running ledger filterable by period, product or account without requiring the Accounting app.
Draft/Computed/Posted lifecycle
A run moves from Draft to Computed to Posted, with recompute blocked once posted and a reset-to-draft action that clears both the run's totals and its journal lines.
Product-level cost visibility
The product form shows every cost card attached to it, the latest run's variance and a variant-level average/min/max standard price for quick comparison.
Pivot and graph period reporting
Variance runs can be grouped by month and product in pivot and graph views for a period-close review.
Use Cases
Screenshots
01 Cost Variance Runs List
02 Cost Variance Run Form
03 Standard Cost Cards List
05 Variance Accounts List
Why Choose This Module
Because every variance formula is delegated to one framework-free, unit-tested engine and the run always reconciles price+quantity, rate+efficiency and spending+volume back to the exact actual-minus-standard total, cost accountants get textbook-correct standard-costing numbers they can trust for period-close reporting, not an approximation.
Specifications
- Compatible: Odoo 18.0 / 19.0 / 20.0
- License: OPL-1
- Languages: 35+
- Author: Pokutsoft
- Dependencies: mrp
- Support: support@pokutsoft.com
- Update date: 2026-10-02
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