Current/Standard Rates

The cost per hour for the rate, defined in the base currency displayed.  Both standard and current rates may be maintained for each workcenter.  Current rates are used to generate a current cost for manufactured parts and standard rates to generate standard costs for manufactured parts.  Standard costs are used to value inventory; current costs may be maintained to keep track of fluctuations in the cost of labor and overhead.  If Product Costing is installed, current rates may be copied into the standard rates.