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Landed Cost With Standard Cost Items

edited Jan 28, 2024 6:31AM in Ask A Guru 5 comments


I am trying to set up landed costs for assembly items that are using the standard cost costing method

SuiteAnswers 99364 and the NetSuite help documentation isn't very clear

Help Documentation:

Landed Cost With Standard Cost Items

Two standard cost items are marked to use landed cost.

Item 1: standard cost = 10 x Quantity = 1

Item 2: standard cost = 12 x Quantity = 1

On a receipt, for each the rate = 13 (total 26).

Item 2 Variance = 1 (13 – 12)

Item 2 Asset = 12

Item 1 Variance = 3 (13 – 10)

Item 1 Asset = 10

Inventory Received Not Billed account = (-13 x 2)

For landed cost:

one item is used (6010 Advertising)

entered $5 with allocation method = Quantity

The $5 is allocated evenly.


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