The costing run allows companies to cost large amounts of materials in a single costing process. It contains six steps: selection of materials to cost, exploding their bill of materials, costing the materials and components, analyzing costs, marking costs as planned standards, and releasing costs for use. Configuration of costing and valuation variants and cost component structures determine how materials are costed. An example of using product costing for a cookie baking shop helps illustrate the costing of raw materials, semi-finished goods, and finished goods.