What is 'cost rate' in SAP SRD-FIN-COR - FIN-Cost and Revenue?

cost rate - Overview

• Component: SRD-FIN-COR

• Component Name: FIN-Cost and Revenue

• Description: A currency value assigned to the unit and quantity for a service. The unit is normally hours or each. The currency is that of the legal entity providing the service. There is no distinction between plan and actual.

cost rate - Details

• 
  Key Concepts: 
  Cost rate is a term used in SAP's Cost and Revenue Accounting component. It is a numerical value that is used to calculate the cost of a product or service. The cost rate is determined by taking into account the cost of materials, labor, overhead, and other expenses associated with producing the product or service. 
  
  How to use it: 
  In SAP, cost rate is used to calculate the cost of a product or service. This calculation is done by multiplying the cost rate by the quantity of the product or service being produced. The resulting value is then used to determine the total cost of production. 
  
  Tips & Tricks: 
  When calculating the cost rate, it is important to take into account all of the costs associated with producing the product or service. This includes materials, labor, overhead, and other expenses. Additionally, it is important to keep track of any changes in costs over time so that the cost rate can be adjusted accordingly. 
  
  Related Information: 
  For more information on SAP's Cost and Revenue Accounting component, please refer to SAP's official documentation here: https://help.sap.com/viewer/product/SRD-FIN-COR/latest/en-US