No product costing estimate could be found

What causes this issue?

In Profitability Analysis (CO-PA), the system tried to find a product
cost estimate for product <ZH>&V1&</> in plant <ZH>&V2&</> that uses
<DS:GLOS.costing_variant>costing variant</> <ZH>&V3&</>.
The system looked for the cost estimate using costing key <ZH>&V4&</>
as defined in the <DS:SIMG.SIMG_CFMENUORKEKE40>CO-PA Customizing
settings</>.

System Response

No estimate could be found.

How to fix this error?

Check the settings for valuation using product costing. If necessary,
create a product cost estimate for this product.

Error message extract from SAP system. Copyright SAP SE.