What configuration settings are available to set up valuation using material cost estimate in costing based profitability analysis?

In Costing based Profitability analysis you define costing keys. A costing
key is a set of access parameters which are used in valuation to
determine which data in Product cost planning should be read. In the
costing key you attach the costing variant.

In the costing key you specify whether the system should read the
current standard cost estimate, the previous standard cost estimate or
the future standard cost estimate or a saved cost estimate.

The configuration settings to determine this costing key is as follows:-
1) Assign costing keys to the products – Three costing keys can be
attached to a single product for a specific point of valuation, record
type, plan version.
2) Assign costing keys to Material types
3) Assign costing keys to any characteristics – You can use your own
strategy to determine the costing keys. This is through user
defined assignment tables.