What is 'cost estimate' in SAP AP-COS - FIN Costing?

cost estimate - Overview

• Component: AP-COS

• Component Name: FIN Costing

• Description: An object containing the costs calculated for a cost object.

cost estimate - Details

• 
  Key Concepts: 
  Cost estimate is a feature of the SAP AP-COS FIN Costing component. It is used to calculate the estimated cost of a product or service based on the cost of its components. It takes into account the cost of materials, labor, overhead, and other factors to provide an accurate estimate of the total cost. 
  
  How to use it: 
  To use the cost estimate feature, first enter the details of the product or service into the system. This includes information such as the type of product or service, quantity, and any other relevant details. Once this information is entered, the system will calculate an estimated cost based on the data provided. 
  
  Tips & Tricks: 
  When using the cost estimate feature, it is important to ensure that all relevant information is entered accurately. This will help ensure that the estimated cost is as accurate as possible. Additionally, it is important to regularly review and update the data in order to keep the estimates up-to-date. 
  
  Related Information: 
  The cost estimate feature can be used in conjunction with other features of SAP AP-COS FIN Costing such as budgeting and forecasting. Additionally, it can be used to compare estimated costs with actual costs in order to identify areas where savings can be made.