What is Price Update in SAP CO-PC - Product Cost Controlling?

SAP Term: Price Update

• Component: CO-PC

• Component Name: Product Cost Controlling

• Description: A function that updates the cost calculated in a material cost estimate to the material's master record.

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• Key Concepts: 
  Price Update is a component of SAP's Product Cost Controlling (CO-PC) module. It allows users to update the prices of materials and services used in production. This helps to ensure that the cost of production is accurately reflected in the final product cost. 
  
  How to use it: 
  Price Update can be accessed through the SAP system. Once in the system, users can select the materials and services they wish to update and enter the new prices. The system will then automatically update the cost of production accordingly. 
  
  Tips & Tricks: 
  When updating prices, it is important to ensure that all relevant materials and services are included. This will help to ensure that the cost of production is accurately reflected in the final product cost. Additionally, it is important to regularly review and update prices as market conditions change. 
  
  Related Information: 
  Price Update is part of SAP's Product Cost Controlling (CO-PC) module. Other components of this module include Cost Object Controlling, Cost Center Accounting, and Activity-Based Costing.