1Z1-1074 Exam Training Practice Tests (Oracle Cost Management Cloud 2019 Implementation Essentials)]

Question 1

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, 2015effective 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. 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. B. It will use the work definition with the January 2, 2016effective 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 2

The process to map the APinvoices to the trade operation charges has completed. Which entity did the application use to do this?

A. Trade Operation Template B. PreReference Types C. Material Receipts D. Charge Names E. Routes

Correct Answer: B

Question 3

You are trying to import the purchase order information into Receipt Accounting in the Schedule Process work area. Why can't you see this process?

A. Purchase order information should not be imported into Receipt Accounting. B. All purchase order information is included in the Transfer Transactionsfrom Receiving to Costing process. There is no separate process. C. This process can only be scheduled and run from the Receipt Accounting work area D. You do not have the role to import purchase order information into Receipt Accounting. E. Purchase order information is automatically sent to Receipt Accounting using a real-timemethod

Correct Answer: E

Question 4

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

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

Correct Answer: C,E

Question 5

Your client uses actual costing and needs to cost to the subinventory level. They have a few subinventories that hold normal goods and one subinventory that holds returned goods. They want their normal goods subinventories to be costed differently from their returned goods subinventory.
Which cost policy supports this requirement?

A. Create a separate cost organization for the normal goods subinventories and one cost organization for the returned goods subinventory. B. EnaWe the inventory organization that holds the subinventories to be costed to the subinventory level by changing the organization parameter field from "Costing Level" to "Subinventory." C. Manually create one valuation unit for the normal goods subinventories and one valuation unit for the returned goods subinventory. D. Create a separate cost book for the normal goods subinventories and one cost book for the returned goods subinventory Add both cost books to the same cost organization. E. Manually create one cost profile for the normal goods subinventories and one cost profile for the returnedgoods subinventory.

Correct Answer: B

Question 6

Which three predefined areas can you review on the Overview page of Cost Accounting? (Choose three.)

A. Inventory Valuation B. Cost Processing C. Item CostIdentify two reference types used to tie a receipt trade operation to an expense invoice for landing D. Journal Entries E. Work Order Costs F. Purchase Variance Summary

Correct Answer: A,B,C

Question 7

You have configured the application as follows:
* Expense items are set to accrue at receipt.
* Receipt Close tolerance is set to 75 percent.
* Purchasing Line types are set to 2-way match.
When you create a purchase order, the Accrue on Receipt check box is automatically selected when a line is added.
Which two configurations changes willensure the Accrue on Receipt check box is not selected by default?

A. Change the Receipt Close tolerance so it is 100 percent. B. Change the Purchasing Line types to 3-way match. C. Change expense items to accrue at period end. D. Change inventory items to accrue at period end. E. Change the Purchasing Line types to 4-way match.

Correct Answer: B,E

Question 8

How is the standard cost of a manufactured configured item calculated?

A. The standard cost is calculated for every possible combination of options under a model B. It is based on the material and resource requirements of a released work order. C. The standard cost of a model item is calculated. D. It is based on the actual cost of the work order after it is completed.

Correct Answer: C

Oracle Cost Management Cloud 2019 Implementation Essentials - 1Z1-1074 Exam Practice Test