Variant Configuration for a BOM 

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Go to Transaction Code: CU41.

The necessary settings need to be maintained for the configurable material CYCLE to explore in a sales order.

We have to create the variant conditions for the characteristics maintained in the class CYCLECLASS. Then go to configuration or press F8 as shown below.

Transaction code: CU50.

Select one of the characteristics and go for its value and press the icon assign variant condition. Like wise we can maintain the variants for all the char. Values of the characteristics. 

This is the variant as specified as medium range which should have the condition records maintained for VA00 and VA01.  

Finally maintain the condition records for the condition VA00 by using the transaction code: VK11.

The below specified conditions are active for the material CYCLE.

Now let us create a sales order. As the material is a BOM material it should explore with the sub-items and also should give us the screen to select the required material.

Press enter for the various characteristics of the material.

As the material CYCLE is a configurable material, we can choose various options for the material as shown below.

The material CYCLE is exploded with the sub-items and the net value is directly calculated based on the variants maintained for condition type VA00. 

The BOM components for material CYCLE are:

Transaction Code: CS02.

RIM, PEDDLE, TYRES are the sub-items for material CYCLE.