MM Variant Configuration

Hi,

Can you please explain the MM Variant configuration?

Scenario:

i am creating a PO for material CAR for vendor Maruti, if the colour is green, then price is 2000$ and colour is Red, then price is 2200$.

Material number should be same. Based on Colour, we need the price in the PO.

Is this possible in Variant config?

Thanks

Vasan