Product costing program for wood component manufacturers

Adrienn Andersch; Urs Buehlmann; Jeff Palmer; Jan K. Wiedenbeck; Steve Lawser

doi:10.13073/FPJ-D-13-00060

Treesearch

Product costing program for wood component manufacturers

Formally Refereed

Authors:

Adrienn Andersch, Urs Buehlmann, Jeff Palmer, Jan K. Wiedenbeck, Steve Lawser

Year:

2013

Type:

Scientific Journal

Station:

Northern Research Station

DOI:

https://doi.org/10.13073/FPJ-D-13-00060

Source:

Forest Products Journal. 63(7-8): 247-256.

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Abstract

Accurate and timely product costing information is critically important for companies in planning the optimal utilization of company resources. While an overestimation of product costs can lead to loss of potential business and market share, underestimation of product costs can result in financial losses to the company. This article introduces a product costing program called WoodCite that was specifically developed for small and medium-sized hardwood dimension and components manufacturers. WoodCite is a Microsoft Access application that allows companies to determine product costs and to create competitive bids based on their company and product information. The program uses a regression model to estimate the overhead cost of a product based on historical cost information provided by the user. WoodCite was developed with input from members of the Wood Components Manufacturers Association. The application is available for free at Virginia Tech's Wood Products Web site (http://woodproducts.sbio.vt.edu/woodcite).

Citation

Andersch, Adrienn; Buehlmann, Urs; Palmer, Jeff; Wiedenbeck, Janice K; Lawser, Steve. 2013. Product costing program for wood component manufacturers. Forest Products Journal. 63(7-8): 247-256.