SAP Message QRPCC101 - No product cost collector exists for the specified characteristics

Diagnosis
No product cost collectorexists for the specified characteristics (material &V1&, productionplant &V2&, planning plant &V3&, production version &V4&).

System Response
The document entered cannot be posted.

Procedure
Create a product cost collector for the specified characteristics. Menupath: Cost Object Controlling -> Product Cost by Period -> Master Data-> Product Cost Collector -> Edit