Exercise - Set up pricing calculation

  • 15 minutes

In the USP2 company, the price of apples (part M9103) is to be tracked based on the NYMEX commodity exchange pricing of apples. The sales price of apple sauce, which is manufactured from the apples, is to be based on the fluctuations in the pricing of the apples.

The weekly pricing for the weeks of August 17, 2020 and August 24, 2020 has been received as 0.14/lb and 0.15/lb, respectively. Enter the pricing calculation based on this data.

Before you begin

You must perform the previous exercise “Set up commodity pricing”, before you can do this exercise.

Create pricing calculation for the week of August 17, 2020

  1. In the USP2 company, go to Inventory management > Periodic tasks > Commodity pricing > Pricing calculation.
  2. Select New.
  3. In the Cost basis type field, enter or select NYMEX.
  4. In the Site field, enter 1.
  5. In the Run effective date field, set the date to August 17, 2020.
  6. In the Run expiry date field, set the date to August 21, 2020.
  7. Select Save.
  8. Select Commodity pricing.
  9. Select New.
  10. In the Item number field, enter M9103.
  11. In the Warehouse field, enter or select a value, such as 11.
  12. Set New cost to 0.14.
  13. Select Save.
  14. Close the page.

Create pricing calculation for the week of August 24, 2020

  1. Select New.
  2. In the Cost basis type field, enter or select NYMEX.
  3. In the Site field, enter 1.
  4. In the Run effective date field, set the date to August 24, 2020.
  5. In the Run expiry date field, set the date to August 28, 2020.
  6. In the Previous run field, enter or select the most recent value, such as 000002.
  7. Select Commodity pricing.
  8. Set New cost to 0.15.
  9. Select Save.
  10. Close the page.