A finite element method for the compaction process of metallic powder is introduced in the present work. Basic equations for the finite element formulation are summarized. A yield criterion, which is modified by describing asymmetric behavior of powder metal compacts, is introduced and applied to a certain class of powdered metal compaction processes. Two-level flanged solid cylindrical components are analyzed in three different compacting methods with three different compact geometries. The simulation results are summarized in terms of relative density distribution within compacts, pressure distributions along the die-wall interfaces, load-stroke relationships of each punch, average densities as functions of height and radius of the compact, respectively, and average densities of pin and head. For each compact from different compacting method, the best pressing method is chosen for uniform density distributions within the compact.