BOM standard cost

Is there a way to put a standard price on a bill of material?  I see you can reference a price list, but I am not sure how and why that would work.  Currently we have the raw materials in our BOM and the BOM price is .149 cents per lb.  We know that when we add all of the variable labor and electricity plus our fixed costs to our raw materials the BOM price is .32 per lb.  We want our product inventory to be automatically valued at .32 per lb.  What is the best way to accomplish this task?

Regards,

Fred