I have a production quantity variance and a production price variance on my work order close that I am unable to determine the math behind. what are some of the potential causes for these variances

AI generated answer (using internal Slack threads):

****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ****** Production Quantity Variance and Production Price Variance on a work order close in NetSuite can be caused by several factors: 1. Production Quantity Variance: This can occur when the actual quantity of units produced differs from the planned quantity. For example, if you planned to produce 300 units but ended up producing 350 units, you would have a production quantity variance of 50 units. This could be due to a variety of reasons such as errors in production planning, inefficiencies in the production process, or unexpected changes in demand. 2. Production Price Variance: This variance arises when the actual cost of the goods consumed in the production process is higher or lower than the expected cost. This could be due to changes in the prices of raw materials, labor costs, or overhead costs. In the context of NetSuite, these variances are reflected in the "Production Price Variance Account" and "Purchase Price Variance Account". The "Production Price Variance Account" is used to track variances on Work Orders, while the "Purchase Price Variance Account" is related to Purchase Orders and Bills when the actual price is different than the standard price. To track the variance between the old PO quantity and the new PO quantity, you can use a saved search formula. Here is an example of such a formula:

CASE WHEN {linesystemnotes.field} = 'Quantity' AND {linesystemnotes.type} = 'change' THEN TO_NUMBER({linesystemnotes.newvalue})-TO_NUMBER({linesystemnotes.oldvalue}) END

Please note that the formula is case-sensitive, so make sure to use 'Quantity' with a capital 'Q'. If you discover that units were overproduced by mistake, you could use Assembly Unbuild to reverse the production and put the raw material stock back. Alternatively, you could use an Inventory Adjustment. Remember, these are potential causes and solutions. The actual cause and solution may vary depending on the specific circumstances of your production process and NetSuite setup.