Oracle 1z0-1074-23 Oracle Cost Management Cloud 2023Implementation Essentials Exam Practice Test

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Turn off merge matching lines in the journal line rule.

Turn off the summarize flag in the journal line rule.

Write a custom report.

Turn on detailed posting for GL in the ledger setup.

Extract distribution accounting entries.

Management Cost Accounting Periods

Analyzing and Comparing Costs

Review Work Order Costs

Estimating Standard Costs for Assemblies

Manage Resource Rates

Review Item Costs

Define the route in Cost and Profit Planning and associate with the Trade Operations Template in Landed Costs.

Define the route in Functional Setup Manager and associate with Trade Operations in Landed Costs

Define the route in Functional Setup Manager and associate with Manage Charge Invoice Associations in Landed Costs

Define the route in Landed Costs and associate with the Trade Operations Template in Landed Costs.

Define the route In Cost and Profit Planning and associate with Trade Operations in Landed Costs

Quick Setup generates valuation units so they just have to access those valuation units and make their changes.

They cannot change their current configuration; data generated by Quick Setup cannot be changed.

They must create their valuation units manually.

Quick Setup generates one valuation unit so they can access this to make changes and manually create new valuation units.

Charge Name

Reference Types

Trade Operation Templates

Routes

Trade Operation

Costing Account Balances Report

In-transit Valuation Report

COGS and Revenue Matching Report

Work in Process Inventory Valuation Report

Layer Inventory Valuation Report

Cost Accounting Valuation Report

Inventory Valuation Report

A retroactive purchase order price adjustment can cause an adjustment to the inventory value and the cost of goods sold.

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 different from the estimated amount on the purchaseorder.

A change to a requisition after the purchase order has been created will create a cost adjustment. D. A revenue recognition event, which in turn triggers a cost of goods sold recognition event, can cause a cost adjustment.

A standard cost update will create an inventory value adjustment.

Authorized users can manually create cost adjustments.

Analyze Standard Purchase Cost Variances

Create Receipt Accounting Distribution

Review Item Costs

Adjust Receipt Accrual Clearing Balances

Review Journal Entries

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

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.

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

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.

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

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

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

The standard cost of the configured item is based on the purchase order price quoted by the

supplier for the configured item.

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

Orders

Cost Scenario

Charge Name

Routes

Trade Operation

Rule sets assigned to a secondary ledger with a different COA

Rule sets that have a mapping set to convert the accounts

Rule sets not associated with any chart of accounts

Rule sets where the accounting rules override the method rule set

Rule sets that use the same chart of accounts

Purchase order information is automatically sent to Receipt Accounting using a real-time method

This process can only be scheduled and run from the Receipt Accounting work area

You do not have the role to import purchase order information into Receipt Accounting.

All purchase order information is included in the Transfer Transactions from Receiving to Costing process. There is no separate process.

Purchase order information should not be imported into Receipt Accounting.

Product Information Management > Search and select item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to "No".

Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals > Set Accrue Expense Items to At Receipt.

Product Information Management > Search and select the expense item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to "Yes".

Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals > Set Accrue Expense Items to Period End.

Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at Period End.

Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at At Receipt.

Create Data Access on the Accounts Payable role for the correct cost organization.

Create Data Access on the Accounts Payable role for the correct inventory organization.

Create Data Access on the Cost Accountant role for the correct inventory organization.

Create Data Access on the Cost Accountant role for the correct cost organization.

Receivables invoices; actual cost can be used.

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

Receipt costs; costs include adjustments.

Requisition costs; validated costs can be used.

Purchase order costs; item catalog costs can be used.

It is based on the material and resource requirements of a released work order.

The standard cost of a model item is calculated.

The standard cost is calculated for every possible combination of options under a model

It is based on the actual cost of the work order after it is completed.

Business Unit and Cost Organization

Inventory Organization and Legal Entity

Business Unit and Legal Entity

Business Unit and Inventory Organization

Legal Entity and Cost Organization

Inventory Organization and Cost Organization

Item cost profiles are defined within an inventory organization. There can be only one cost method for an inventory organization.

Cost profiles are ultimately defined at the item level. Different items within the same inventory organization can use different cost profiles.

Item cost profiles are defined at the cost organization level. All items within a cost organization must use the same cost profile.

Different items within an inventory organization can use different cost profiles, but items within an item category must all use the same cost profile because that is the level at which the default cost profile is defined.

Complete Quick Setup and then create the user-defined cost using the Manage Cost Component task.

This requirement will already be met by the default data generated when using Quick Setup.

Create the cost in Manage Cost Scenarios.

You can only track costs for Direct Labor and Direct Equipment; this requirement cannot be met.

When the condition is met, the rule associated with that priority is used.

Priorities determine the order in which accounting rule conditions are examined.

The conditions are evaluated in the sequence they are defined in the accounting rule.

After all conditions are tested, the final resulting value is used.

Use parenthesis to control the order of the condition evaluation.

Export item costs

Run preprocessor

Complete cost roll-up

Publish costs

Create a new cost scenario

Add standard costs to a cost scenario