Additional Process Information 
There are many steps necessary for creating the base of information.
As a basis you need characteristics describing the material (in this case, a multiple-value characteristic). Characteristics are used in a class which is intended for the variant configuration. You maintain object dependencies for the characteristics and characteristic values so that the user can only select admissible values.
The required settings for the configurable material have to be maintained in the material master. You should therefore create a configuration profile in which you determine the configuration parameters and assign the material to the class with characteristics describing it.
The components and operations for a configurable material are determined in a maximum BOM and a maximum work plan. For those operations and components that can only be collected with certain variants you have to maintain object dependencies.
Pricing is based on the condition technique. You create condition records for condition type VA00 (total values) or VA01 (percentage values). The pricing procedure has to be set up in the way that the condition types VA00 and VA01 are taken into consideration.
You create object dependencies for the price characteristic. You then assign the object dependencies to the characteristic values or to the configuration profile.
Before using the configuration of a material in a productive system, you should simulate the configuration to check if all data has been maintained properly.