Raw material pricing in material master

Hello forum members

Want to know where do we give the actual price of the raw materials in the material master for costing.Product cost estimate just gives the activity costs but what about the physical cost of the materials?Do we maintain it somewhere?How do we maintain such material costs when externally procured and inhouse produced.When we rum CK11N material price is picked from BOM,but where do we maintain that price?

Thanks in advance.