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

SAP Term: reference cost estimate

• Component: CO-PC

• Component Name: Product Cost Controlling

• Description: A method by which a cost estimate can access the data of another cost estimate. In Customizing, you can define a reference variant to control whether costing items are transferred directly, or whether individual costing items, or all costing items, are revaluated.

Smart SAP Assistant

• Key Concepts: 
  Reference cost estimate is a tool in SAP's CO-PC Product Cost Controlling module that allows users to compare the actual costs of a product with the estimated costs. It is used to analyze the differences between the two and identify areas of improvement. The reference cost estimate can be used to compare different versions of a product, or to compare different products. 
  
  How to use it: 
  To use the reference cost estimate, users must first enter the estimated costs for a product into the system. This can be done manually or by importing data from an external source. Once the estimated costs are entered, users can then enter the actual costs for the product. The system will then compare the two and display any differences between them. 
  
  Tips & Tricks: 
  When entering estimated costs into the system, it is important to be as accurate as possible. This will ensure that the comparison between actual and estimated costs is as accurate as possible. Additionally, it is important to regularly update the estimated costs in order to keep track of any changes in production costs. 
  
  Related Information: 
  The reference cost estimate is just one of many tools available in SAP's CO-PC Product Cost Controlling module. Other tools include cost object controlling, cost center controlling, and activity-based costing. All of these tools can be used together to gain a better understanding of production costs and identify areas for improvement.