Passing VO's into custom MXML components

Hi there. I have a repeater that's dataProvider is an ArrayCollection. I want to pass the currentItem of the repeater( a VO ) into the custom component. Any thoughts on the best way to do this?
Repeater
     <mx:VBox y="44" height="80%" width="80%">     
          <mx:Repeater id="listContainer" dataProvider="{queue}">
               <views:QueueItemView   />
          </mx:Repeater>
     </mx:VBox>
Custom Component
<?xml version="1.0" encoding="utf-8"?>
<mx:Canvas xmlns:mx="http://www.adobe.com/2006/mxml" width="600" height="60">
     <mx:Script>
          <![CDATA[
               import com.ryancanulla.dashboard.content.vo.QueueItemVO;
               [Bindable] public var item:QueueItemVO = new QueueItemVO();
          ]]>
     </mx:Script>
     <mx:Text x="10" y="10" text="This is the Article Title" fontWeight="bold" fontSize="12" width="545"/>
     <mx:Text x="10" y="30" text="item date  |  category  |  source"/>
     <mx:HRule width="100%" />
</mx:Canvas>

<mx:VBox y="44" height="80%" width="80%">    
     <mx:Repeater id="listContainer" dataProvider="{queue}">
          <views:QueueItemView
               item="{ QueueItemVO( listContainer.currentItem ) }" />
     </mx:Repeater>
</mx:VBox>

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    Operations cost - $30
    Process order # 2 produced material B using raw material C and a series of operations.
    Process order # 2 costs: Input material C - $40
    Operations cost - $30
    So, the results should look like COGS 100 comprise of $ 40 material cost and $ 60 operations cost.
    I understand standard cost estimates can be linked to CO-PA fields to get cost component structure. But, we don't use standard costing. We use CO-PA which gives COGS.
    Is there something similar to cost estimate to calculate as above? Or, this is a custom development.
    Thanks in advance for any pointers / advice?
    Sanjiv Agrawal

    What is COGS?

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