No standard cost estimate for material K1000400160 in plant 1100
I am getting this error. Please help
Srikanth Munnaluri replied
With respect to Semi-finished and Finished goods, you need to run the Standard Cost Estimate in the system. Master Data required for this are Bill of Material, Routing and Costing Sheet (if you are using Costing Sheet for Overhead calculation).
Once the above data is available in the system, go to CK11N, select Material, Plant etc and execute. You will be able to see the Standard Cost estimated by the system.
Now go to CK24 to Mark and Release the Standard Cost.
Once you do this, Standard Cost will get upldated in the "Current Planned Price" in Costing2 View of the Material Master.
Standard Cost is required in the system for doing any material related transactions. When you do Variance Calculation in KKS2 for any Order of this material, system will calculate the difference between this Standard Cost and the Target Cost. When you settle the Order, that Variance amount will get posted to Price Difference Account in FI based on your OBYC settings.
Revert back for further explanation...