( error no CK 465)  No price could be determined for the material

Hi,
While costing for a material i am getting the error messages as folloows
1) No price could be determined for the material   error no CK 465
2)Cost component split costed with value of zero  CK240
Materail procurement type is F - External procurement  so i hope no need BOM and routing , they were not created.
Material has price control indicator - S
Material type - ZVAR (Finished product variant)
          What could be the reason for this error and what is the solution
THannks & regds
Ramachandra

Hi Experts,
I also got the same error how to solve it.
Many materials costed with errors how to resolve those.
Error Messages are: 465,240,322,597,168
Please let me know the solution.
I have Run the cycle on 29-02-2012, Today i.e 0n 01-03-2012 MM consultant wants to close the period of February.
Is it required to resolve the errors before closing the february period?
Can we resolve the errors after closure of the period.
Please guide me. Most urgent
Jyoshna

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