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1Z0-1074-23 Oracle Cost Management Cloud 2023 Implementation Professional

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Oracle · 1Z0-1074-23

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Question 1

Multiple choice

Identify two characteristics of Landed Cost charge names.

A
Duty is a seeded charge name for Landed Cost.
B
You can modify a charge name until it is associated with a trade operation.
C
Charge names cannot be used to tie an invoice to a trade operation.
D
You can use multiple currencies within a trade operation for the same charge name on different lines.
E
Charge names cannot be associated with a PO schedule.

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Correct answersB, D

Question 2

Multiple choice

Identify four characteristics of a cost element.

A
Users can define any number of cost elements.
B
It is the most granular level of cost captured by upstream systems such as procurement, accounts payable, and manufacturing.
C
It is the granularity at which costs are tracked and accounted.
D
It is user-defined.
E
The mapping of cost components into cost elements is user-defined.
F
It uses date effectivity.

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Correct answersB, D, E, F

Question 3

Multiple choice

What are three cost method choices that are available in Cost Accounting?

A
Period end average cost
B
Actual cost (LIFO or Last In First Out)
C
Periodic average cost
D
Standard cost
E
Perpetual average cost
F
Actual cost (FIFO or First In First Out)

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Correct answersB, E, F

Question 4

Single choice

Your client is using Quick Setup to implement Costing. They have a requirement to track costs for manufacturing overhead.

How can you make sure that this requirement is met?

A
Complete Quick Setup and then create the user-defined cost using the Manage Cost Component task.
B
This requirement will already be met by the default data generated when using Quick Setup.
C
Create the cost in Manage Cost Scenarios.
D
You can only track costs for Direct Labor and Direct Equipment; this requirement cannot be met.

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Correct answerB

Question 5

Multiple choice

A chart of accounts (COA) must be specified on the accounting method for which two situations?

A
When using ledgers that have unique accounting requirements
B
When using account combination rules
C
When account combination rules use constants
D
Every accounting method should have a COA.
E
When using segment rules

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Correct answersD, E

Question 6

Multiple choice

Identify two criteria to select a specific work definition in an inventory organization when defining a cost estimation in a Cost Planning scenario

A
Work definitions without alternates
B
Work definitions with specific unit numbers
C
Work definitions with the highest production priority
D
Work definitions with the lowest production cost
E
Work definitions with the highest costing priority

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Correct answersB, D

Question 7

Single choice

When attempting to open costing periods, your customer is receiving the following error: Error: You do not have the required permission. You can request that your help desk change your security settings.

What configuration needs to be done so your customer will be able to open the Cost Accounting period?

A
Create Data Access on the Accounts Payable role for the correct cost organization.
B
Create Data Access on the Accounts Payable role for the correct inventory organization.
C
Create Data Access on the Cost Accountant role for the correct inventory organization.
D
Create Data Access on the Cost Accountant role for the correct cost organization.

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Correct answerA

Question 8

Multiple choice

Which three cost planning tasks can be performed in the Cost Accounting work area?

A
Review Work Order Costs
B
Review Item Costs
C
Analyzing and Comparing Costs
D
Estimating Standard Costs for Assemblies
E
Manage Resource Rates
F
Manage Cost Accounting Periods

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Correct answersA, D, E

Explanation

https://fusionhelp.oracle.com/fscmUI/topic/TopicId_P_C97AC111350F0D3EE040D30A68814D11

Question 9

Multiple choice

You are establishing the cost for a make assembly. When we run Cost Rollup, it is not rolling up and the Assembly shows "0" cost. However, item costs are available for child (buy) components. In the review work order cost, we are able to see child components costs, but not the rollup cost of the assembly.
Identify two reasons this happened.

A
The item has no on-hand inventory.
B
The assembly item is marked as Perpetual Average costed.
C
Outstanding purchase orders have not been received.
D
The Work Definition is incomplete.
E
Burdens have not been established for the item

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Correct answersB, D

Question 10

Single choice

Your client only wants to cost inventory items and third party costs.

Which two modules are they required to implement to ensure this functionality?

A
Receipt Accounting
B
Cost Accounting
C
Landed Cost Management
D
Inventory Management
E
Product Model

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Correct answerD

Question 11

Multiple choice

Identify four processors available in the cost processor.

A
Receipt Processor
B
Cost Distribution Processor
C
Cost Reports Processor
D
Cost of Goods Sold Processor
E
Cost Accounting Processor
F
Costing Period Processor

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Correct answersB, C, D, E

Explanation

https://docs.oracle.com/en/cloud/saas/supply-chain-management/r13-update17d/fapma/manage-cost-accounting.html#FAPMA146491

Question 12

Multiple choice

Which two types of costs are included in the cost of contract manufactured items?

A
The cost of Items that the contract manufacturer had to purchase to perform the contract manufacturing service, and the cost of resources used by the contract manufacturer
B
The cost of items that the original equipment manufacturer (OEM) owns and has provided to the contract manufacturer for use in the process of making the output Items
C
The cost of resources consumed at the OEM's factory
D
The cost of the contract manufacturing service Item. This is the price that the contract
E
Manufacturer will charge to make the outputs and would normally be enough to cover their costs and include a fair profit.

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Correct answersA, B

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2	Multiple choice	9

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