STEP 1
Start the transaction using the menu path or transaction code
Price Update: Mark Standard Price : initial screen
STEP 2
- Enter the period
- Enter the company code
- Enter the plant code
- Enter the material code to be costed
- Untick "Test Run"
STEP 3
Make sure that the cost estimate was updated successfully 
If there is a message:
the error must be solved before going to the next step
Usually the error is related with the periods closed and it's just necessary to go back and open them:
STEP 4
Go back
The detail of the calculation is displayed
Go back again
STEP 5
Click on 
STEP 6
A message informs that the cost estimate was updated successfully
Go back to leave the transaction
STEP 7
Note
The release can only be done if the material has no movements for the respective month. Meaning if you try to release the price and you have an error, you should check if the material has movements.
Go to MB51, execute and see if you have items. If so, the price can be released only for the following month (you should repeat everything with date of September):
STEP 8
When the release is correctly done without any error, you can already see the new price in the master data of the material (MM03, tab Costing 2):
