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Oracle 1z0-1074-23 Exam Syllabus Topics:

Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:

1. Identify two ways that standard cost is calculated.

A) The cost of a configured item is calculated based on the work definition of the model item.
B) The standard cost of the configured item is based on the purchase order price quoted by the supplier for the configured item.
C) The standard cost is the sum of the cost of the selected option items.
D) Users must manually enter the cost of each configured item; the calculation is not automated.
E) The roll-up calculation can be performed to update standard costs for Cost Accounting purposes

2. Which two types of costs are included in the cost of contract manufactured items?

A) The cost of resources consumed at the OEM's factory
B) The cost of the contract manufacturing service Item. This is the price that the contract
C) Manufacturer will charge to make the outputs and would normally be enough to cover their costs and include a fair profit.
D) 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
E) 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

3. 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?

A) Create Data Access on the Accounts Payable role for the correct inventory organization.
B) Create Data Access on the Cost Accountant role for the correct inventory organization.
C) Create Data Access on the Accounts Payable role for the correct cost organization.
D) Create Data Access on the Cost Accountant role for the correct cost organization.

4. Identify four characteristics of a cost element.

A) It uses date effectivity.
B) Users can define any number of cost elements.
C) It is the granularity at which costs are tracked and accounted.
D) It is user-defined.
E) It is the most granular level of cost captured by upstream systems such as procurement, accounts payable, and manufacturing.
F) The mapping of cost components into cost elements is user-defined.

5. You have an item with two work definitions. One work definition is production priority 1 and named Plan A.
Another work definition is production priority 2 and named Plan B.
In your cost planning scenario, you have specified the work definition selection criteria as name and then production priority, and you have defined the name as Plan B.
How will the application select the work definition?

A) The application will generate an error because there are two work definitions for the same item.
B) The scenario will choose the work definition that is production priority 1.
C) The cost planning scenario will use both work definitions for the item.
D) While you can have more than one work definition for the same item, the cost scenario has no way to unambiguously select one of them.
E) The application will use the work definition that is named Plan B.

Solutions: