The Formula Sets tab is used to select pre-defined formulas sets that can be used to calculate the time and cost associated with an operation or work center. For example, a standard time and cost formula set or a periodic time and cost formula set. These formulas formula sets take into account the number of parts to be produced in the operation or work center, and use the specifications defined for work center.

While multiple formula sets can be associated with a work center, one formula set can be designated as the default formula for the work center. It is this formula set that is assigned to an operation when the work center is allocated to that operation.