What is standard cost in SAP EPM-IM-FPL - EPM IM Flying Profit&Loss (Leopard)?

SAP Term: standard cost

• Component: EPM-IM-FPL

• Component Name: EPM IM Flying Profit&Loss (Leopard)

• Description: The indirect costs allocated to transactions using the Standard Cost Unit Rate.

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• Key Concepts: 
  Standard cost is a method of cost accounting used to estimate the cost of producing a product or providing a service. It is based on predetermined costs for materials, labor, and overhead. Standard costs are used to compare actual costs to expected costs and to identify areas where costs can be reduced. 
  
  How to use it: 
  In SAP EPM-IM-FPL (Leopard), standard cost is used to calculate the expected cost of producing a product or providing a service. This cost is then compared to the actual cost incurred in order to identify areas where costs can be reduced. Standard cost can also be used to set pricing for products and services. 
  
  Tips & Tricks: 
  When setting standard costs, it is important to ensure that they are realistic and achievable. It is also important to regularly review and update standard costs in order to ensure that they remain accurate and up-to-date. 
  
  Related Information: 
  For more information on standard cost, please refer to the SAP EPM-IM-FPL (Leopard) documentation. Additionally, there are many online resources available that provide further information on standard cost and how it can be used in SAP EPM-IM-FPL (Leopard).