COST ACCOUNTING AND ALLOCATION WORKFLOW

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[ ] Fetch Monthly Operating Expenses: Retrieve all expense entries from the Expense Data Model for the current period.
[ ] Fetch Cost Center Metadata: Retrieve departmental cost center details and allocation keys from the Cost Center Data Model.
[ ] Sum Total Direct Costs: Calculate the sum of all direct material and labor costs from the retrieved expense entries.
[ ] Sum Total Indirect Costs: Calculate the sum of all overhead and indirect utility entries.
[ ] Calculate Overhead Rate: Divide Total Indirect Costs by Total Direct Costs to determine the overhead multiplier.
[ ] Calculate Allocated Cost per Department: Apply the overhead rate to each department's specific direct cost base.
[ ] Create Allocation Journal Entry: Create a new entry in the Allocation Ledger containing the calculated results.
[ ] Update Budget Status: Update the 'Actual vs Budget' field in the Monthly Budget Data Model with the new allocated totals.
[ ] Assign Variance Review: Create a task for the Finance Manager to review any cost variances exceeding 5%.
[ ] Generate Monthly Cost Allocation Report: Generate a comprehensive PDF report summarizing total costs, allocations, and departmental impacts.
[ ] Notify Department Heads: Send an email to all cost center owners with their updated monthly cost allocations.
[ ] Final Ledger Reconciliation: Create a task for the Senior Accountant to perform the final month-end reconciliation.

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