What is work in process in SAP CO-PC - Product Cost Controlling?

SAP Term: work in process

• Component: CO-PC

• Component Name: Product Cost Controlling

• Description: Unfinished products whose costs can be determined as follows: from the difference from actual cost debit and credit of an order through the valuation of the yield confirmed to date per operation, minus the confirmed scrap

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• Key Concepts: 
  Work in process (WIP) is a term used in SAP CO-PC Product Cost Controlling to refer to the cost of unfinished goods or services that are in the process of being produced. It includes the cost of raw materials, labor, and overhead associated with the production process. WIP is tracked throughout the production process and is used to calculate the total cost of goods sold. 
  
  How to use it: 
  In SAP CO-PC Product Cost Controlling, WIP is tracked by entering the cost of raw materials, labor, and overhead associated with the production process into the system. This information is then used to calculate the total cost of goods sold. The system also allows users to track changes in WIP over time and compare it to other production costs. 
  
  Tips & Tricks: 
  It is important to keep track of WIP throughout the production process in order to accurately calculate the total cost of goods sold. Additionally, it is important to regularly review and update WIP information in order to ensure accuracy. 
  
  Related Information: 
  For more information on SAP CO-PC Product Cost Controlling, please visit https://help.sap.com/viewer/product/CO-PC/latest/en-US.