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Oracle 1z0-1074-23 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Cost Accounting and Processing | - Period close and cost rollup - Cost accounting distributions - Cost calculation processes |
| Cost Management Cloud Overview | - Integration with Oracle SCM Cloud - Key business processes and architecture |
| Setup and Configuration | - Cost organization and cost profiles setup - Costing methods configuration - Inventory valuation setup |
| Reporting and Analysis | - Cost reconciliation and audit - Cost analysis reports |
| Inventory and Work Order Costing | - Manufacturing and work order costing - Inventory transactions costing |
Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:
Which four predefined costing reports can you use to gather information to review inventory value? (Choose four.)
- A. Layer Inventory Valuation Report
- B. Costing Account Balances Report
- C. COGS and Revenue Matching Report
- D. Inventory Valuation Report
- E. Work in Process Inventory Valuation Report
- F. In-transit Valuation Report
- G. Cost Accounting Valuation Report
Correct Answer: A,B,D,F 🗳️
Identify two characteristics of an expense pool. (Choose two.)
- A. It is a user-defined entity that represents a grouping of expenses that you want to absorb with resource and overhead rates.
- B. It helps you analyze under-absorption and over-absorption of expenses that you want to capitalize onto the balance sheet as inventory value.
- C. You can define the name of your expense pool, but you cannot define more than one.
- D. It is used only for analyzing gross margins on noninventory sales of services.
Correct Answer: A,B 🗳️
Which two rules determine whether a condition has been met for accounting rules?
- A. After all conditions are tested, the final resulting value is used.
- B. When the condition is met, the rule associated with that priority is used.
- C. Priorities determine the order in which accounting rule conditions are examined.
- D. The conditions are evaluated in the sequence they are defined in the accounting rule.
- E. Use parenthesis to control the order of the condition evaluation.
Correct Answer: B,C 🗳️
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: Purchase Order Price Adjustment Event Type: Expense Accrual
- B. Event Class: Expense Accrual Event Type: Period End Accrual
- C. Event Class: Expense Accrual Event Type: Expense Accrual
- D. Event Class: Period End Accrual Event Type: Period End Accrual
- E. Event Class: Purchase Order Price Adjustment Event Type: Period End Accrual
Correct Answer: D 🗳️
Your client is using Quick Setup to implement Costing. They have a requirement to track costs for manufacturing overhead. How can you make sure that this requirement is met?
- A. This requirement will already be met by the default data generated when using Quick Setup.
- B. Complete Quick Setup and then create the user-defined cost using the Manage Cost Component task.
- C. Create the cost in Manage Cost Scenarios.
- D. You can only track costs for Direct Labor and Direct Equipment; this requirement cannot be met.
Correct Answer: A 🗳️
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