No entry found in table MBEW with key & & &

What causes this issue?

The system must calculate the <ZK>Tax from</> status for a material
that is split-valuated.

System Response

There is no entry in the valuation table MEBW with the following keys:
(1) Material
(2) Valuation area (probably at plant level)
(3) Valuation type

How to fix this error?

Check that the keys are correct, you need all three fields to access
table MBEW. Check the split-valuated entry in the material master for
this material and valuation type.

Error message extract from SAP system. Copyright SAP SE.