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    Author(s): Adrienn Andersch; Urs Buehlmann; Jeff PalmerJanice K Wiedenbeck; Steve Lawser
    Date: 2013
    Source: Forest Products Journal. 63(7-8): 247-256.
    Publication Series: Scientific Journal (JRNL)
    Station: Northern Research Station
    PDF: View PDF  (691.22 KB)

    Description

    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).

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    • This article was written and prepared by U.S. Government employees on official time, and is therefore in the public domain.

    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.

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