Exam Name: Oracle Cost Management Cloud 2023 Implementation Essentials
Certification Provider: Oracle
Corresponding Certification: Cost Management Cloud
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Oracle 1z0-1074-23 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Reporting and Analysis | - Cost analysis reports - Cost reconciliation and audit |
| Inventory and Work Order Costing | - Inventory transactions costing - Manufacturing and work order costing |
| Setup and Configuration | - Inventory valuation setup - Costing methods configuration - Cost organization and cost profiles setup |
| Cost Management Cloud Overview | - Integration with Oracle SCM Cloud - Key business processes and architecture |
| Cost Accounting and Processing | - Cost calculation processes - Cost accounting distributions - Period close and cost rollup |
Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:
Identify two characteristics of an expense pool. (Choose two.)
- A. It is used only for analyzing gross margins on noninventory sales of services.
- 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. It is a user-defined entity that represents a grouping of expenses that you want to absorb with resource and overhead rates.
- D. You can define the name of your expense pool, but you cannot define more than one.
Correct Answer: B,C 🗳️
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 lots differently then others What must they do to accomplish this?
- A. Quick Setup generates one valuation unit so they can access this to make changes and manually create new valuation units.
- B. They cannot change their current configuration; data generated by Quick Setup cannot be changed.
- C. Quick Setup generates valuation units so they just have to access those valuation units and make their changes.
- D. They must create their valuation units manually.
Correct Answer: A 🗳️
Which two steps need to be completed to estimate landed costs?
- A. Allocate charges
- B. Transfer transactions from the Inventory to the Costing process.
- C. Update standard costs.
- D. Transfer transactions from the Payables to the Costing process.
- E. Prepare the Material Purchase Order Data process.
Correct Answer: A,E 🗳️
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 is calculated for every possible combination of options under a model
- C. The standard cost of a model item is calculated.
- D. It is based on the actual cost of the work order after it is completed.
Correct Answer: C 🗳️
Identify four reasons to use the set ID when defining Cost Accounting setups. (Choose four)
- A. You have the option to share setup data across all cost organizations using the common set.
- B. You can control which definitions are visible to different cost organizations
- C. You can take advantage of the business unit-to-set ID mapping defined in Cost Accounting.
- D. You can share definitions across multiple cost organizations.
- E. You don't have to create any definitions for cost books.
- F. You can streamline your setup effort.
Correct Answer: A,C,D,F 🗳️
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