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1z0-1074-23 Questions and Answers

Question # 6

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.

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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Question # 7

The process to map the AP invoices to the trade operation charges has completed. Which entity did the application use to do this?

A.

Material Receipts

B.

Charge Names

C.

PreReference Types

D.

Routes

E.

Trade Operation Template

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Question # 8

A manager has decided to close the period by not allowing any new transactions, except for corrections and adjustments, which can happen any time before the period is closed permanently.

Which cost period status will allow the system to perform the transaction?

A.

Open

B.

Closed

C.

Permanently Closed

D.

Never Opened

E.

Close Pending

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Question # 9

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?

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 the returned 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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Question # 10

You have finished creating your sub ledger journal entry rule sets and see that they are still in the incomplete status. Which two steps will ensure that the journal entries are generated?

A.

Add the subledger journal entry rule sets to the Manage Journal Entry Rule Set task.

B.

Add the subledger journal entry rule sets to the Manage Accounting Methods task.

C.

Run the "Activate Subledger Journal Entry Rule Set Assignments" process.

D.

Run the "Activate Accounting Methods" process.

E.

Validate the subledger journal entry rule sets using Validate Journal Entry Rule Set.

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Question # 11

Which four steps need to be completed to establish standard costs for a make item?

A.

Export item costs

B.

Run preprocessor

C.

Complete cost roll-up

D.

Publish costs

E.

Create a new cost scenario

F.

Add standard costs to a cost scenario

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Question # 12

There are freight charges on an invoice. Which two setups are required to get create accounting to enter a separate accounting line for it?

A.

Sub ledger accounting is set up to accomplish this out-of-the-box.

B.

Line Type must be set to Freight.

C.

Account Class must be set to Freight.

D.

Create a condition for a journal line for freight.

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Question # 13

When running the Transfer Costs to Cost Management process, where will the primary default source for costs come from and what is the effect?

A.

Receivables invoices; actual cost can be used.

B.

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

C.

Receipt costs; costs include adjustments.

D.

Requisition costs; validated costs can be used.

E.

Purchase order costs; item catalog costs can be used.

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Question # 14

Trade events for physical shipments are interfaced into the Cost Accounting subledger from which module?

A.

Inventory

B.

Order Management

C.

Purchasing

D.

Financial Orchestration

E.

Shipping

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Question # 15

An invoice is created in a foreign currency. The invoice is not paid until several weeks later. By then, the currency conversion rate has changed.

How do you get the journal line rule to calculate the gain or loss?

A.

Create a foreign reporting currency to track gain/loss.

B.

Create a secondary ledger to track gain/loss.

C.

Turn on the Subledger Gain or Loss Option.

D.

Subledger Accounting is already set up to process it.

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Question # 16

Which two outcomes can happen in create accounting when an account combination returned is end dated?

A.

The original account is stored on the journal line.

B.

Suspense accounts cannot be used.

C.

An alternate account will be used if provided.

D.

An error will always occur.

E.

The preprocessor will pre-warn about this error.

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Question # 17

If the Create Accounting process ends with errors or warnings, which three statements outline places you can go to get more detailed information about the specific errors and warnings?(Choose Three)

A.

Refer to the Accounting Event Diagnostic report.

B.

Review errors in the Create Accounting Execution log.

C.

Review errors in the Create Accounting Execution report.

D.

Query the transaction from Review Cost Accounting Distributions to see the error message.

E.

Refer to the Accounting Event Diagnostic Log.

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Question # 18

Your client wants to view Landed Cost Variance. Which pair of search options are available to view Landed Cost Variance?

A.

Business Unit and Cost Organization

B.

Inventory Organization and Legal Entity

C.

Business Unit and Legal Entity

D.

Business Unit and Inventory Organization

E.

Legal Entity and Cost Organization

F.

Inventory Organization and Cost Organization

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Question # 19

Which three predefined areas can you review on the Overview page of Cost Accounting? (Choose three.)

A.

Purchase Variance Summary

B.

Journal Entries

C.

Item Costs

D.

Cost Processing

E.

Work Order Costs

F.

Inventory Valuation

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Question # 20

Identify two reference types used to tie a receipt trade operation to an expense invoice for landing.

A.

Internal requisition number

B.

Shipment number

C.

Expense invoice number

D.

Bill of Lading

E.

Receipt number

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Question # 21

Identify two ways that standard cost is calculated.

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 standard cost 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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Question # 22

Which three features are included in Receipt Accounting?

A.

Analyze Standard Purchase Cost Variances

B.

Create Receipt Accounting Distribution

C.

Review Item Costs

D.

Adjust Receipt Accrual Clearing Balances

E.

Review Journal Entries

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Question # 23

Your customer wants to run a report to review account balances for both inventory valuation and cost of goods sold. Which two Oracle Transactional Business Intelligence reports would you run so the customer can review these balances?

A.

Inventory Account Balances Report

B COGS Account Balances Report

B.

Revenue and COGS Matching Report

C.

Costing Balances Report

D.

Inventory Valuation Report

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