How to calculated actual overhead for Production using Standard Costing
How is it possible to put in statistical data such as hours earned, square footage, or percentage that allows the non production departments spending to be allocated back to production departments. You can then take the earned hours by production department to calculate the current overhead rates.
We are using that option for long but this does need manual cost setup and which is expected in case of standard costing. We are looking to utilize or explore options to know the actual overheads occurred during Production and based on that we can manually update the Overheads using "Manage Overhead Rules UI"