Price not changeable - a standard cost estimate exists for material &

What causes this issue?

You are trying to change the price of material &v1&, even though a
<DS:GLOS.3526B6B2AFAB52B9E10000009B38F974>released</> standard price
exists.

System Response

The price change will not be executed.

How to fix this error?

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.