Latest Oracle Cost Management Cloud 2021 Implementation Essentials 1z0-1074 Free Dumps

NEW QUESTION 1
Identify two characteristics of an expense pool. (Choose two.)

• A. It helps you analyze under-absorption and over-absorption of expenses that you want to capitalize onto thebalance sheet as inventory value.
• B. It is a user-defined entity that represents a grouping of expenses that you want to absorb with resource and overhead rates.
• C. You can define the name of your expense pool, but you cannot define more than one.
• D. It isused only for analyzing gross margins on noninventory sales of services.

Answer: AB

NEW QUESTION 2
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 expense items to accrue at period end.
• B. Change the Purchasing Line types to 4-way match.
• C. Change inventory items to accrue at period end.
• D. Change the Purchasing Line types to 3-way match.
• E. Change the Receipt Close tolerance so it is 100 percent.

Answer: BD

NEW QUESTION 3
Identify the four types of cost adjustments.

• A. A change to a requisitionafter the purchase order has been created will create a cost adjustment.
• B. A revenue recognition event, which in turn triggers a cost of goods sold recognition event, can cause a cost adjustment.
• C. A standard cost update will create an inventory value adjustment.
• D. Authorized users can manually create cost adjustments.
• E. When a supplier invoice is processed in accounts payable, it can cause an adjustment to the inventory value and the cost of goods sold if the amounts processed for payment are differentfrom the estimated amount on the purchase order.
• F. A retroactive purchase order price adjustment can cause an adjustment to the inventory value and the cost of goods sold.

Answer: ABDF

NEW QUESTION 4
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. Perform cost account validations for August in Manage Cost Accounting Periods
• B. Run the Transfer Transactions toCosting process.
• C. Close the August period; you can never have two open periods at the same time.
• D. Change the number of maximum open periods in Manage Cost Organization Relationships

Answer: B

NEW QUESTION 5
Identify three characteristics of cost component to cost element mapping.

• A. You cannot modify, duplicate, or create user-defined cost components.
• B. You can onlydefine one cost component to cost element mapping for an installation.
• C. It is one of the attributes you define as part of your cost profile definitions.
• D. It is user-defined.
• E. It lets you define how cost component level costs will map into cost elements.

Answer: CDE

Explanation:
https://fusionhelp.oracle.com/fscmUI/topic/TopicId_P_9392D04E277B3B45E040D30A68817A96

NEW QUESTION 6
Which two steps need to be completed to estimate landed costs?

• A. Transfer transactions from the Inventory to the Costing process.
• B. Transfer transactions from the Payables to the Costing process.
• C. Update standard costs.
• D. Allocate charges
• E. Prepare the Material Purchase Order Data process.

Answer: CD

NEW QUESTION 7
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

Answer: BD

NEW QUESTION 8
You can track costs at what granularity level in Cost Accounting for the actual costing method?

• A. Subinventory, Make, Lot, Serial
• B. Grade, Serial, Group, Lot
• C. Subinventor
• D. Lot, Serial, Grade
• E. Grade, Subinventory, Locator, Serial
• F. Subinventory, Lot, Serial, Locator

Answer: C

NEW QUESTION 9
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 is automatically sent to Receipt Accounting using a real-timemethod
• B. This process can only be scheduled and run from the Receipt Accounting work area
• C. You do not have the role to import purchase order information into Receipt Accounting.
• D. All purchase order information is included in the Transfer Transactionsfrom Receiving to Costing proces
• E. There is no separate process.
• F. Purchase order information should not be imported into Receipt Accounting.

Answer: A

NEW QUESTION 10
Which two things must your customer check daily in order to ensure that all their purchase order transactions from that day have been accounted for in Receipt Accounting Distribution?

• A. Review their audit receipt accrual clearing balances.
• B. Review their journal entries, including their sub-ledger accounting events and class where the charges from the purchase orders are going to be charged to.
• C. Review their accrual balances and clear them.
• D. Review their Receipt Accounting processes that show whether any processes failed and why.
• E. Review their distributions that show the debit and credit information specific to the Receipt Accounting transaction selected.

Answer: BC

NEW QUESTION 11
Identify two purposes of Sub ledger Accounting.

• A. to maintain backward compatibility
• B. to obtain detailed information for auditpurposes since all sub ledger accounting is at the detail level
• C. to calculate costs for transactions
• D. to create accounting strings that can be viewed and corrected just before they are transferred to the General Ledger
• E. to centralize accounting string generation across all modules

Answer: CD

NEW QUESTION 12
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 definitionswith the highest costing priority

Answer: BD

NEW QUESTION 13
How is the standard cost of a manufactured configured item calculated?

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

Answer: B

NEW QUESTION 14
You need to simulateand 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

Answer: E

NEW QUESTION 15
Your client would like to accrue expense items at period end. What subledger journal entry rule set must be created in order for the expense accrual Journal entries to be successfully generated?

• A. Event Class: Expense Accrual Event Type: Expense Accrual
• B. Event Class: Period End Accrual Event Type: Period End Accrual
• C. Event Class: Expense Accrual Event Type: Period End Accrual
• D. Event Class:Purchase Order Price Adjustment Event Type: Period End Accrual
• E. Event Class: Purchase Order Price Adjustment Event Type: Expense Accrual

Answer: B

NEW QUESTION 16
You are configuring Landed Cost Management for client proof of conceptand only want to set up required tasks. Which task must be completed?

• A. Charge Name
• B. Reference Types
• C. Trade Operation Templates
• D. Routes
• E. Trade Operation

Answer: B

NEW QUESTION 17
Which two outcomes can happen in create accounting when an account combination returned is end dated?

• A. The original account is stored on the journal line.
• B. Suspense accounts cannot be used.
• C. An alternate account will be used if provided.
• D. An error will always occur.
• E. The preprocessor willpre-warn about this error.

Answer: AC

Explanation:
https://docs.oracle.com/en/cloud/saas/financials/18b/faisl/subledger-accounting-setup.html#FAISL212668

NEW QUESTION 18
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 book for the normal goods subinventories and one cost book for the returned goods subinventory Add both cost books to the same cost organization.
• B. Create a separate cost organization for the normal goods subinventories and one cost organization for the returned goods subinventory.
• C. Manually create one cost profile for the normal goods subinventories and one cost profile for the returnedgoods subinventory.
• D. Manually create one valuation unit for the normal goods subinventories and one valuation unit for the returned goods subinventory.
• E. 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."

Answer: E

NEW QUESTION 19
You are verifying your distributions for yourtransactions. You Just ran the receipt accounting distribution process. However, your purchase order receipt is not showing up.
What do you need to do for your receipt to show up?

• A. Run the Transactions from Procurement to Costing process.
• B. Run theTransfer Costs from Payables to Cost Management process.
• C. Run the Create Accounting process.
• D. Run the Clear Receipt Accrual Balances process.
• E. Run the Transactions from Receiving to Costing process.

Answer: E

NEW QUESTION 20
You have configured your expense items to accrue at receipt. You have created a few purchase orders and want to verify that the supplier invoices have been created.
Which accounting entries signal this process has taken place?

• A. Debit Charge Account (expense or inventory), Credit Receiving Inspection
• B. Debit Accrued Liability, Credit Accounts Payable
• C. Debit Receiving Inspection, Credit Accrued Liability
• D. Debit Expense, Credit Receiving Inspection
• E. Debit Expense, Credit Expense Accrual

Answer: A

NEW QUESTION 21
Which three features are included in Receipt Accounting?

• A. Analyze Standard Purchase Cost Variances
• B. Create ReceiptAccounting Distribution
• C. Review Item Costs
• D. Adjust Receipt Accrual Clearing Balances
• E. Review Journal Entries

Answer: BDE

Explanation:
https://docs.oracle.com/en/cloud/saas/supply-chain-management/r13-update17d/faims/implementing-receipt-acc

NEW QUESTION 22
Which statement is true regarding the cost cutoff date in Cost Accounting?

• A. It only affects whether or not you can process a cost adjustment.
• B. Transactions with a transaction date after the cost cutoff date will not be processed until the cost cutoffdate is changed to a date that is later than the transaction date.
• C. Transactions with a transaction date after the cost cutoff date will not be processe
• D. These transactions will never be processed in any subsequent cost processor run.
• E. Transactions with a transaction date before the cost cutoff date will not be processed until the cost cutoff date is changed to a date that is before the transaction date.

Answer: B

NEW QUESTION 23
Your client originally used Quick Setup to configure Cost Accounting However, after reviewing their costing policies, they realize that they want to cost some of their lotsdifferently then others
What must they do to accomplish this?

• A. Quick Setup generates valuation units so they just have to access those valuation units and make their changes.
• B. They cannot change their current configuration; data generated by Quick Setup cannot be changed.
• C. They must create their valuation units manually.
• D. Quick Setup generates one valuation unit so they can access this to make changes and manually create new valuation units.

Answer: D

NEW QUESTION 24
A manager has decided to close the period by not allowing any new transactions, except for correctionsand adjustments, which can happen any time before the period is closed permanently.
Which cost period status will allow the system to perform the transaction?

• A. Open
• B. Closed
• C. Permanently Closed
• D. Never Opened
• E. Close Pending

Answer: B

NEW QUESTION 25
The process to map the APinvoices to the trade operation charges has completed. Which entity did the application use to do this?

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

Answer: C

NEW QUESTION 26
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