Comprehensive and Detailed 150 to 250 words of Explanation From SAP S/4HANA Cloud Public Edition, Management Accounting documents:

Event-Based Production Accounting simplifies the variance management process by moving away from manual period-end runs. In a make-to-order scenario, production variances are automatically calculated and posted by the system18. This automation is triggered by specific business events, such as the final goods receipt or final delivery (status DLV), ensuring that the difference between actual and target costs is cleared from the order immediately19.

Crucially, production variances can also be calculated in case of partial delivery (status PDLV)20. In an event-based system, as each portion of a sales order is completed and delivered to the customer, the system evaluates the costs incurred against the target costs for that specific quantity and recognizes the variance21. This provides a much more granular view of production efficiency than traditional methods. While the "Delivered" status is a trigger (Option D), it is not the only trigger, as partial deliveries also participate in this process22. Manual on-demand calculation (Option C) is not the standard behavior for event-based systems, which favor real-time automation.