Oracle Oracle Certifications 1Z0-1074 Questions & Answers

• Question 41:

  Select two ways to define the standard cost for an item from the Cost Accounting work area.

  A. Manage the Item Cost task.

  B. Import standard costs from receipt layers.

  C. Manage the Standard Cost task.

  D. Create Standard Cost in a spreadsheet.

  Correct Answer: AD

• Question 42:

  After all relevant transactions are in Receipt Accounting, which two tasks must be completed for these transactions to be transferred to the General Ledger?

  A. Transfer to Sub ledger Accounting.

  B. Transfer transactions from payables.

  C. Transfer transactions from receiving.

  D. Create distributions.

  E. Assign accruals to purchase order transactions.

  Correct Answer: D

• Question 43:

  There are freight charges on an invoice. Which two setups are required to get create accounting to enter a separate accounting line for it?

  A. Sub ledger accounting is set up to accomplish this out-of-the-box.

  B. Line Type must be set to Freight.

  C. Account Class must be set to Freight.

  D. Create a condition for a journal line for freight.

  Correct Answer: BC

• Question 44:

  You need to simulate and estimate landed cost charges associated with purchase order receipts of material. What must you create to make this possible?

  A. Orders

  B. Cost Scenario

  C. Charge Name

  D. Routes

  E. Trade Operation

  Correct Answer: E

• Question 45:

  Identify two ways that standard cost is calculated.

  A. Users must manually enter the cost of each configured item; the calculation is not automated.

  B. The standard cost is the sum of the cost of the selected option items.

  C. The cost of a configured item is calculated based on the work definition of the model item.

  D. The standard cost of the configured item is based on the purchase order price quoted by the supplier for the configured item.

  E. The roll-up calculation can be performed to update standard costs for Cost Accounting purposes

  Correct Answer: BE

• Question 46:

  Assume today is November 15, 2015, and you are getting ready to implement new standard costs for the new year Your cost planning scenario has a January 1, 2016 effective date. An item has three work definitions. One work definition has an October l, 2015 effective date. A second work definition has a December 1, 2015 effective date. A third work definition has a January 2, 2016 effective date. How will the application select the work definition?

  A. It will use the work definition with the January 2, 2016 effective date.

  B. Depending on the selection criteria, it will use the work definition with the December l, 2015 effective date or the work definition with the October l, 2015 effective date.

  C. It must always use the work definition with the October 1, 2015 effective date.

  D. You will receive an error because the application will detect that all three are plausible, and it will be unable to determine which one to choose.

  Correct Answer: D

• Question 47:

  When running the Transfer Costs to Cost Management process, where will the primary default source for costs come from and what is the effect?

  A. Receivables invoices; actual cost can be used.

  B. Payables invoices; invoice price variance can be added to item cost.

  C. Receipt costs; costs include adjustments.

  D. Requisition costs; validated costs can be used.

  E. Purchase order costs; item catalog costs can be used.

  Correct Answer: A

• Question 48:

  Which three features are included in Receipt Accounting?

  A. Analyze Standard Purchase Cost Variances

  B. Create Receipt Accounting Distribution

  C. Review Item Costs

  D. Adjust Receipt Accrual Clearing Balances

  E. Review Journal Entries

  Correct Answer: BDE

  https://docs.oracle.com/en/cloud/saas/supply-chain-management/r13- update17d/faims/implementingreceipt-accounting.html#FAIMS1921270

• Question 49:

  Identify two reference types used to tie a receipt trade operation to an expense invoice for landing.

  A. Internal requisition number

  B. Shipment number

  C. Expense invoice number

  D. Bill of Lading E. Receipt number

  Correct Answer: AB

• Question 50:

  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.

  Correct Answer: B