What is current cost estimate in SAP CO-PC - Product Cost Controlling?

SAP Term: current cost estimate

• Component: CO-PC

• Component Name: Product Cost Controlling

• Description: A cost estimate that can be created at any time to value the current quantity structure with the current prices. This cost estimate serves the following purposes: You can compare its results with the results of the standard cost estimate to support decision-making in production. You can transfer the results of this cost estimate to the material master and use them to value goods receipts when working with materials that use the moving average price.

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• Key Concepts: 
  Current cost estimate is a term used in SAP's CO-PC Product Cost Controlling component. It is a calculation of the expected cost of a product or service based on current market prices and conditions. It is used to compare the actual cost of production with the estimated cost, and to identify any potential savings or losses. 
  
  How to use it: 
  The current cost estimate can be used to determine the expected cost of a product or service before it is produced. This can be done by analyzing the current market prices and conditions, and then calculating the expected cost based on those factors. The current cost estimate can then be compared to the actual cost of production to identify any potential savings or losses. 
  
  Tips & Tricks: 
  When calculating the current cost estimate, it is important to consider all relevant factors such as labor costs, materials costs, overhead costs, and any other costs associated with producing the product or service. Additionally, it is important to regularly update the current cost estimate as market prices and conditions can change over time. 
  
  Related Information: 
  The current cost estimate is closely related to other terms such as standard cost estimate and target cost estimate. Standard cost estimates are based on historical data and are used to compare actual costs with expected costs over time. Target cost estimates are used to set goals for reducing costs over time.