Hi Nitisha
Yes you will be able to see all variance depending upon the settings in your variance variant (OKVG) and variance key.
Target cost versions 1/2/3 are meant for the purpose if you are interested to see your variance on different parameters (different than 0 ver).
In ver 0 the Control cost is based on 'Actual cost' which is compared with 'Current std Cost est' as target cost for the purpose of variance calculations.
In ver 1 the Control cost is again based on 'Actual cost' which is compared with 'Plan or prel cost est of order' as target cost for the purpose of variance calculations. For these variances your planning deptt may be held responsible.
In ver 2 the Control cost is based on 'Plan cost of order' which is compared with 'Current std cost est' as target cost for the purpose of variance calculations.
In ver 3 the Control cost is based on 'Actual cost of order' which is compared with 'Alternative cost est' (COst estimate based on some other costing parameters) as target cost for the purpose of variance calculations.
But remember you can settle/post only variance calculated with ver 0 in your FI books.
Regards
Rajneesh