The target costs in target cost version 0 are missing

Question

Dear Experts,
I am getting following error while running Varience cost through KKS2:
Only remaining var. in version 0 - no target costs for 000001061683 0001
Message no. KV151
Diagnosis
For the calculation of variances with 000001061683 0001, the target costs in target cost version 0 are missing for the following reasons:
There were no planned costs and/or planned quantities (see earlier message).
The quantities on which the planned costs were based are zero in the time period concerned. This may be caused by the fact that no goods receipt for a cost object (such as a product cost collector or production order) has been entered.
This results in target costs of zero.
System response
Because no target costs were calculated, the difference between the
planned and actual costs could not be broken down into variance categories. The difference is updated as a remaining variance.
Please suggest, How to proceed.
Regards

Answer 1

First check this...
1.Go to t.code OKEV.Select Controlling Area 2222 and create Plan / Target version.
The standard system supplies the following target cost versions:
Target cost version 0 ( total variance)
The amount of the total variance generates a posting in Financial Accounting during settlement.
For this version, select actual costs as the control costs and standard cost estimate as the target costs.
Target cost version 1 ( production variance)
For this version you choose actual costs as the control costs and planned costs as the target costs.
Target cost version 2( planning variance)
With target cost version 2, the costs from the preliminary order cost estimate are interpreted as control costs. For this version, select planned costs as the control costs and current cost estimate as the target costs. You cannot calculate planning variances for the product cost collector.
Target cost version 3 (production variance of the period)
You compare the planned costs of the period calculated on the basis of an alternative material cost estimate (such as a modified standard cost estimate) with the actual costs of the period on the basis of the yield delivered to stock in the period.
2.Also try In CO02 goto cunctions...cost...
3.Go to transaction OKV6 these settings control what values are used to update the target costs.
Target cost comes from the standard price calculated when doing a costing run. Actual costs are costs that you incur during the production order (we can reassign costs during the order so this could be different from the standard price).
Target Costs=Actual Quantitiy X the Standard Cost Estimate Price..
Probably the stand.cost estimate will be missing in ur case...