What is costing variant in SAP AP-COS - FIN Costing?

SAP Term: costing variant

• Component: AP-COS

• Component Name: FIN Costing

• Description: A set of control parameters for costing, including default values and valuation control. The costing variant is based on the cost estimate type.

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• Key Concepts: 
  A costing variant is a set of parameters used to define the costing process in SAP. It is used to determine the cost of a product or service based on the cost elements associated with it. The costing variant is used in the Financial Accounting (FI) module of SAP and is part of the Cost Object Controlling (CO-PC) component. 
  
  How to use it: 
  The costing variant is used to define the cost elements that are associated with a product or service. This includes the cost of materials, labor, overhead, and other costs associated with producing the product or service. The costing variant also defines how these costs are calculated and allocated to the product or service. 
  
  Tips & Tricks: 
  When creating a costing variant, it is important to consider all of the cost elements associated with a product or service. This will ensure that all costs are accurately accounted for and that the resulting cost of the product or service is accurate. Additionally, it is important to consider how these costs will be allocated across different products or services. 
  
  Related Information: 
  The costing variant is part of the Cost Object Controlling (CO-PC) component in SAP. This component also includes other features such as cost centers, activity types, and cost objects. Additionally, there are other components in SAP that are related to costing such as Materials Management (MM) and Production Planning (PP).