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1z0-1074-20 Oracle Cost Management Cloud 2020 Implementation Essentials Questions and Answers

Questions 4

When attempting to open costing periods, your customer is receiving the following error:

Error: You do not have the required permission. You can request that your help desk change your security settings.

What configuration needs to be done so your customer will be able to open the Cost Accounting period?

Options:

A.

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

B.

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

C.

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

D.

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

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Questions 5

Which three features are included in Receipt Accounting?

Options:

A.

Analyze Standard Purchase Cost Variances

B.

CreateReceipt Accounting Distribution

C.

Review Item Costs

D.

Adjust Receipt Accrual Clearing Balances

E.

Review Journal Entries

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Questions 6

Identify two purposes of Sub ledger Accounting.

Options:

A.

to maintain backward compatibility

B.

to obtain detailed information foraudit purposes 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 accountingstring generation across all modules

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Questions 7

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?

Options:

A.

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

B.

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

C.

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

D.

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

E.

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

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Questions 8

You need to simulate and estimate landed cost charges associated with purchase order receipts of material. What must you create to make this possible?

Options:

A.

Orders

B.

Cost Scenario

C.

Charge Name

D.

Routes

E.

Trade Operation

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Questions 9

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?

Options:

A.

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

B.

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

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.

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Questions 10

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?

Options:

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 thereturned goods 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."

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Questions 11

Identify two ways that standard cost is calculated.

Options:

A.

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

B.

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

C.

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

D.

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

supplier for the configured item.

E.

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

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Exam Code: 1z0-1074-20
Exam Name: Oracle Cost Management Cloud 2020 Implementation Essentials
Last Update: Feb 21, 2024
Questions: 79