Cost Management - EBS (MOSC)

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How to reverse Price Variance caused by Standard Cost Update

edited Nov 11, 2017 4:03AM in Cost Management - EBS (MOSC) 1 commentAnswered

Hello

We have a scenario, where we updated the standard cost of an item having enough on hand.

As a result, we observed an increase in the Price Variance with the amount = Updated Standrad Cost (01-APR-2017) - PO Receipt Cost (31-MAR-2017). This has happened with a lot of items. How to reverse this Price Variance Accumulation.

Debit - Price Variance Account

Credit - Inv Valuation Acct

How to release this Additional Cost Accumulcation.

Thanks

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