1z1-987 Exam Training Practice Tests (Oracle Cost Management Cloud 2017 Implementation Essentials)]

Question 1

Your organization currently has the August period for this year open. They want to be able to open the September period, while keeping August open. When you try to open the target period, August of this year, you get an error.
What must you do to meet your customer's requirement and resolve this error?

A. Change the number of maximum open periods in Manage Cost Organization Relationships B. Perform cost account validations for August in Manage Cost Accounting Periods C. Close the August period; you can never have two open periods at the same time. D. Run the Transfer Transactions to Costing process.

Correct Answer: D

Question 2

In which two scenarios would you define account rules based on value sets?

A. When there is a mapping set to convert the accounts B. When a secondary ledger has a different COA C. In the absence of a chart of accounts on the accounting method D. If a segment shares the same value set across multiple chart of accounts E. When a chart of accounts is assigned to the value set definition

Correct Answer: A,D

Question 3

Landed Cost Variance Analysis can be performed based on which three dimension combinations?

A. Item Category/Material Supplier/Landed Cost Charge B. Item/Business Unit/Route C. Inventory Organization/Landed Cost Charge/Third Party Supplier D. Item Catalog/Inventory Organization/Business Unit E. Business Unit/Landed Cost Charge/Cost Organization

Correct Answer: D

Question 4

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

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

Correct Answer: C,E,F

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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 cost profile for the normal goods subinventories and one cost profile for the returned goods subinventory. D. Manually create one valuation unit for the normal goods subinventories and one valuation unit for the returned goods subinventory. E. 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.

Correct Answer: B

Question 6

After "Cost Accounting Processor" has processed the physical inventory classification of transactions which transaction types will it process next?

A. In-transit B. Retro-reprice C. Adjustments D. Cost of Goods Sold E. Overhead

Correct Answer: E

Question 7

Identify three Landed Cost Management tasks.

A. Create Accounting B. Perform Allocations C. Review Journal Entries D. Capture Charges E. Manage Cost Scenarios F. View Rolled Up Costs

Correct Answer: A,B,D

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Oracle Cost Management Cloud 2017 Implementation Essentials - 1z1-987 Exam Practice Test