Steps Necessary To Pass The 1Z0-1074-21 Exam from Training Expert VCEDumps [Q48-Q69]

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Steps Necessary To Pass The 1Z0-1074-21 Exam from Training Expert VCEDumps

Valid Way To Pass Cost Management Cloud’s 1Z0-1074-21 Exam

NO.48 How is the standard cost of a manufactured configured item calculated?

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.

NO.49 You are explaining the characteristics of a “profit in inventory” cost element to a client. Which three statements describe true characteristics of this cost element?

It is only used when you do not need to maintain an arm’s length relationship.

It can help you understand true margins and value added by internal business units through the internal supply chain.

It can help you with consolidated financial reporting.

It is a special type of cost element that helps you keep track of internal markups when inventory is transferred between inventory organizations that are in different business units.

It is a special type of cost element that helps you keep track of internal markups when inventory is transferred between inventory organizations that are in the same business unit.

NO.50 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?

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.

NO.51 A chart of accounts (COA) must be specified on the accounting method for which two situations?

When using ledgers that have unique accounting requirements

When using account combination rules

When account combination rules use constants

Every accounting method should have a COA.

When using segment rules

NO.52 You need to simulate and estimate landed cost charges associated with purchase order receipts of material.
What must you create to make this possible?

Orders

Cost Scenario

Charge Name

Routes

Trade Operation

NO.53 Your customer has a defined financial route that is not the same as the physical route in that it involves intermediate nodes (internal business units) that are not part of the physical supply chain.
Which pair of tasks are required to define and associate routes in Landed Cost Management?

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

NO.54 Identify four reasons to use the set ID when defining Cost Accounting setups. (Choose four)

You can share definitions across multiple cost organizations.

You can control which definitions are visible to different cost organizations

You can streamline your setup effort.

You have the option to share setup data across all cost organizations using the common set.

You can take advantage of the business unit-to-set ID mapping defined in Cost Accounting.

You don’t have to create any definitions for cost books.

NO.55 Identify two characteristics of an expense pool. (Choose two.)

It helps you analyze under-absorption and over-absorption of expenses that you want to capitalize onto the balance sheet as inventory value.

It is a user-defined entity that represents a grouping of expenses that you want to absorb with resource and overhead rates.

You can define the name of your expense pool, but you cannot define more than one.

It is used only for analyzing gross margins on noninventory sales of services.

NO.56 You have just finished modifying an accounting method. What is the final step to complete the accounting method configuration?

Activate its journal entry rule set assignments.

Transfer costs to Cost Management.

Create Accounting.

Transfer transactions from Receiving to Costing.

Execute the Preprocessor.

NO.57 Which predefined report should you use from Oracle Business Intelligence Publisher to manage the balance of accrued supplier liabilities for a business unit?

Accrual Supplier Liability Report

Accrual Reconciliation Report

Accrual Clearing Report

Uninvoiced Receipt Accrual Report

Receipt Accounting Real Time Report

NO.58 Which three tasks can be completed in the Receipt Accounting work area?

Review and Approve Item Cost Profiles

Review Item Costs

Create Receipt Accounting Distributions

Review Cost Accounting Distributions

Manage Accrual Clearing Rules

Create Accounting

NO.59 When running the Transfer Costs to Cost Management process, where will the primary default source for costs come from and what is the effect?

Purchase order costs; item catalog costs can be used.

Receivables invoices; actual cost can be used.

Receipt costs; costs include adjustments.

Requisition costs; validated costs can be used.

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

NO.60 Which two types of costs are included in the cost of contract manufactured items?

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

The cost of items that the original equipment manufacturer (OEM) owns and has provided to the contract manufacturer for use in the process of making the output Items

The cost of resources consumed at the OEM’s factory

The cost of the contract manufacturing service Item. This is the price that the contract

Manufacturer will charge to make the outputs and would normally be enough to cover their costs and include a fair profit.

NO.61 Your client wants to turn on summary for GL posting, but they want the Subledger Accounting to contain every transaction unsummarized for detailed analysis and drill down.
How do you accomplish this?

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.

NO.62 You have made some changes to your subledger accounting setups for Costing and want to verify that the journal entries are showing up correctly.
How can you generate a report that allows you to see the subledger journal entries for transactions without actually transferring to the General Ledger?

Run the Create Accounting for Costing process with the following parameters: * Accounting Mode = Draft * Report Style = Detail* Transfer to General Ledger = No * Post in General Ledger = No

Run the Transfer Transactions from Inventory to Costing process with the following parameters: * Accounting Mode = Draft * Report Style = Detail * Transfer to General Ledger = No * Post in General Ledger = No

Run the Create Cost Accounting Distribution process with the following parameters: * Accounting Mode = Draft * Report Style = Detail * Transfer to General Ledger = No * Post in General Ledger = No

Run the Create Cost Accounting Distribution process with the following parameters: * Accounting Mode = Final * Report Style = No report* Transfer to General Ledger = No* Post in General Ledger = No

Run the Create Accounting for Costing process with the following parameters: * Accounting Mode = Final * Report Style = No report* Transfer to General Ledger = No* Post in General Ledger = No

NO.63 Identify three characteristics of cost component to cost element mapping.

You cannot modify, duplicate, or create user-defined cost components.

You can only define one cost component to cost element mapping for an installation.

It is one of the attributes you define as part of your cost profile definitions.

It is user-defined.

It lets you define how cost component level costs will map into cost elements.

NO.64 Identify four features provided by the Review Work Order Costs UI when displaying work order

Scrap Costs

Variable Costs

Output Costs

Incremental Costs

Input Costs

Standard Cost variances

NO.65 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?

Event Class: Expense Accrual Event Type: Expense Accrual

Event Class: Period End Accrual Event Type: Period End Accrual

Event Class: Expense Accrual Event Type: Period End Accrual

Event Class: Purchase Order Price Adjustment Event Type: Period End Accrual

Event Class: Purchase Order Price Adjustment Event Type: Expense Accrual

NO.66 Which four steps need to be completed to establish standard costs for a make item?

Run preprocessor.

Complete cost roll-up.

Publish costs

Export item costs.

Add standard costs to a cost scenario.

Create a new cost scenario.

NO.67 Identify two reference types used to tie a receipt trade operation to an expense invoice for landing.

Internal requisition number

Shipment number

Expense invoice number

Bill of Lading

Receipt number

NO.68 Identify two characteristics of a cost profile.

It is used for calculating the estimated cost of manufactured items under different scenarios.

It is used for Receipt Accounting.

It is where you define your Cost Accounting policies.

It is where you define which cost method you want to use for the cost component to cost element mapping.

NO.69 Identify the four types of cost adjustments.

A change to a requisition after the purchase order has been created will create a cost adjustment.

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.

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 purchase order.

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

Oracle 1Z0-1074-21 Exam Syllabus Topics:

Topic	Details
Topic 1	Perform Cost Accounting processes & Reporting Analyze and resolve errors and exceptions
Topic 2	Create Standard Costs, Resource Rates, and Overhead Rates Describe the Receipt Accounting Work Area
Topic 3	Describe the purpose of Cost Accounting, Receipt Accounting, and Landed Cost Explain the relationships of Subledger Components
Topic 4	Describe the Cost Accounting Work Area Manage daily Receipt Accounting tasks Receipt Accounting Overview
Topic 5	Explain Cost Accounting and how it integrates with other modules Explain Common Inventory Configurations
Topic 6	Create a Subledger Journal Entry Rule set Configure Accrue at period end Manage Daily Cost Accounting tasks

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Steps Necessary To Pass The 1Z0-1074-21 Exam from Training Expert VCEDumps [Q48-Q69]

Oracle 1Z0-1074-21 Exam Syllabus Topics:

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