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Practical Product Costing (Excel Template Provided)

We provide an Excel template and instructional video for calculating product costs for your company. It is ready for immediate practical application.

(5.0) 1 reviews

8 learners

Level Intermediate

Course period Unlimited

  • dymanagementlab
cost reduction
cost reduction
Accounting
Accounting
Excel
Excel
cost reduction
cost reduction
Accounting
Accounting
Excel
Excel

What you will gain after the course

  • Cost price

  • Cost Calculation

  • Product Cost

DY Management Research Institute

(Director Dae-young Lyu, Ph.D. in Business Administration / Certified Management Consultant (Finance))

I am Daeyoung Lyu, and I run 'DY Management Research Institute' on YouTube and N-Blog.

Based on my corporate experience and studies in business administration, I aim to provide practical assistance to professionals in related fields. I offer highly practical approaches that can be applied immediately across costing, management, accounting, financial business planning, investment attraction, and general management. If you are interested in my lectures or wish to collaborate within my areas of expertise, please contact me via email!


※ Areas of Expertise:

  • Management/cost consulting, feasibility studies, financial business planning, management simulation, and financial projections for investment attraction.

  • Practical Excel training, data visualization using Excel, and business efficiency through Excel. I will cut your work time in half.

  • I welcome inquiries regarding lectures, project requests, and Q&A related to my areas of expertise and YouTube videos.



※ Product Costing

Many small and medium-sized enterprise (SME) owners and cost accounting managers likely face significant difficulties because they are unable to calculate costs for each individual product. (I believe this is probably the case for most large corporations as well.)


If you cannot accurately calculate the cost per product, it can lead to issues with product pricing, which in turn can hinder the execution of the company's strategies (such as sales and marketing). You need to know the cost of each product to set prices accordingly and implement strategies, but without accurate product costing, nothing can be pushed forward precisely. It is like executing a strategy with your eyes closed, where success or failure depends almost entirely on luck.


Based on my practical experience and studies in cost accounting, I have developed this Excel tool to help small and medium-sized enterprises easily calculate costs for each product.


I am confident that using this Excel sheet to calculate costs for each of your company's products will be of great help in developing your company's strategy.



※ Composition of this material:


1. Data Preparation for Cost Calculation by Product


1) Summary of Sales Performance

- Organize based on quantity X unit price for each product

- Organize based on 6-month or 1-year performance, or a 1-year plan (Recommended)

- The range is expanded because production volume and costs fluctuate significantly on a monthly basis.


2) Summary of monthly incurred costs

- Organize based on a 1-month average (average of 6-month/1-year performance or 1-year plan)

- This is because closing is usually performed on a monthly basis


3) BOM/Material Cost Summary

- Calculation of material costs by part number

- Unit price by raw/sub-material part number

- Material costs by product


2. Product Costing

- Conduct product-specific cost calculation

- Cost calculation based on total product quantity and cost calculation per unit

- Approach based on the nature of fixed and variable costs


3. Volume Increase/Decrease Simulation


* Please refer to the attached photo for more details.







Recommended for
these people

Who is this course right for?

  • Cost Accountant

  • Accountant

Need to know before starting?

  • Accounting

  • Cost Accounting

Hello
This is

169

Learners

18

Reviews

5

Answers

4.5

Rating

16

Courses

I am Daeyoung Ryu, and I run 'DY Management Research Institute' on YouTube and Naver Blog.

Based on my professional experience and studies, I aim to provide practical assistance to those working in related fields. I offer highly hands-on approaches that can be immediately applied across various areas, including costing, management, accounting, financial business planning, investment attraction, and overall business management.

I am here to help. I provide highly practical and immediate solutions across cost accounting, management, accounting, financial business planning, investment attraction, and overall business management.

  • YouTube DY Management Research Institute: www.youtube.com/@dy-4714

  • Naver Blog DY Management Research Institute: https://blog.naver.com/udae025

※ Areas of Expertise:

  • Management/cost consulting, feasibility studies, financial business planning, management simulation, and financial projections for investment attraction.

  • Practical Excel training, data visualization using Excel, and improving work efficiency through Excel. I will cut your working time in half.

  • I welcome inquiries regarding lectures, project requests, and Q&A related to my areas of expertise and YouTube videos.

Data visualization and business efficiency using Excel. I will cut your work time in half. I welcome requests for lectures, projects, and Q&A regarding my areas of expertise and YouTube videos.

Curriculum

All

4 lectures ∙ (48min)

Course Materials:

Lecture resources
Published: 
Last updated: 

Reviews

All

1 reviews

5.0

1 reviews

  • cosmos7님의 프로필 이미지
    cosmos7

    Reviews 4

    Average Rating 5.0

    5

    100% enrolled

    It was a very precious time being able to learn product cost calculation through Excel materials used in actual practice. It was such a great lecture because the content was based on practical Excel materials rather than theory!

    • dymanagementlab
      Instructor

      Thank you for the good reviews and comments. This is a lecture I created based on my studies and experience. I hope my lecture and materials will be helpful in your work. Thank you.

$26.40

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