Create Cost Accounting Distributions Program error -Mapping does not exist for component mapping gro

Summary

Create Cost Accounting Distributions Program error -Mapping does not exist for component mapping group code

Content

I have performed the miscellaneous receipt and executed the "Transfer Transactions from Inventory to Costing" Program.

But the Create Cost Accounting Distributions Program is failing with the following error message,

Processor__________Type_______________Rows__Message________
     Preprocessor.......Error.................1..Mapping does not exist for component mapping group code **** COST GROUP and set name Common Set and cost component code ITEM_PRICE.
     Cost processor.....Error.................1..The standard cost for this transaction does not exist.

Appreciate any help on this error 

Regards,
Ramesh