All About Practical 1z0-1074 Simulations

NEW QUESTION 1
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 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 cost organization.

Answer: A

NEW QUESTION 2
Identify two characteristics of a cost profile.

• A. It is used for calculating the estimated cost of manufactured items under different scenarios.
• B. It is used for Receipt Accounting.
• C. It is where you define your Cost Accounting policies.
• D. It is where you define which cost method you want to use for the costcomponent to cost element mapping.

Answer: BC

NEW QUESTION 3
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 of a model item is calculated.
• C. The standard cost is calculated for every possible combination of options under a model
• D. It is based on the actual cost of the work order after it is completed.

Answer: B

NEW QUESTION 4
Identify four features provided by the Review Work Order Costs UI when displaying work order

• A. Scrap Costs
• B. Variable Costs
• C. Output Costs
• D. Incremental Costs
• E. Input Costs
• F. Standard Cost variances

Answer: ACEF

NEW QUESTION 5
Identify three Landed Cost Management tasks.

• A. Capture Charges
• B. View Rolled Up Costs
• C. Manage Cost Scenarios
• D. Perform Allocations
• E. Create Accounting
• F. Review Journal Entries

Answer: ADE

Explanation:
https://docs.oracle.com/en/cloud/saas/supply-chain-management/18b/faims/implementing-landed-cost-managem

NEW QUESTION 6
Your customer has asked you to create a report so they can view their receipt accounting distributions along with their receipt accounting transactions.
Which subject areawould you select to create this report?

• A. Receipt Accounting- Receipt Accounting Distributions Real Time
• B. Receipt Accounting-- Receipt Accounting Transactions Real Time
• C. Costing –Receipt Accounting Real Time
• D. Financials-Subledger Accounting-DetailTransactions
• E. Costing-Cost Accounting Real Time

Answer: D

NEW QUESTION 7
Identify four processors available in the cost processor.

• A. Receipt Processor
• B. Cost Distribution Processor
• C. Cost Reports Processor
• D. Cost of Goods Sold Processor
• E. Cost Accounting Processor
• F. Costing Period Processor

Answer: BCDE

Explanation:
https://docs.oracle.com/en/cloud/saas/supply-chain-management/r13-update17d/fapma/manage-cost-accounting.

NEW QUESTION 8
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: Expense Accrual Event Type: Expense Accrual
• B. Event Class: Period End Accrual Event Type: Period End Accrual
• C. Event Class: Expense Accrual Event Type: Period End Accrual
• D. Event Class:Purchase Order Price Adjustment Event Type: Period End Accrual
• E. Event Class: Purchase Order Price Adjustment Event Type: Expense Accrual

Answer: B

NEW QUESTION 9
You have configured the application as follows:
• Expense items are set to accrue at receipt.
• Receipt Close tolerance is set to 75 percent.
• Purchasing Line types are set to 2-way match.
When you create a purchase order, the Accrue on Receipt check box is automatically selected when a line is added.
Which two configurations changes willensure the Accrue on Receipt check box is not selected by default?

• A. Change expense items to accrue at period end.
• B. Change the Purchasing Line types to 4-way match.
• C. Change inventory items to accrue at period end.
• D. Change the Purchasing Line types to 3-way match.
• E. Change the Receipt Close tolerance so it is 100 percent.

Answer: BD

NEW QUESTION 10
Which four predefined costing reports can you use to gatherinformation to review inventory value? (Choose four.)

• A. Costing Account Balances Report
• B. In-transit Valuation Report
• C. COGS and Revenue Matching Report
• D. Work in Process Inventory Valuation Report
• E. Layer Inventory Valuation Report
• F. Cost Accounting Valuation Report
• G. Inventory Valuation Report

Answer: ABCD

NEW QUESTION 11
Which two rules determine whether a condition has been met for accounting rules?

• A. When the condition is met, the rule associated with thatpriority is used.
• B. Priorities determine the order in which accounting rule conditions are examined.
• C. The conditions are evaluated in the sequence they are defined in the accounting rule.
• D. After all conditions are tested, the final resulting value isused.
• E. Use parenthesis to control the order of the condition evaluation.

Answer: AC

NEW QUESTION 12
Your organization currently has the August period for this year open. They want to be able to open the September period, while keeping August open. When you try to open the target period, August of this year, you get an error.
What must you do to meet your customer's requirement and resolve this error?

• A. Perform cost account validations for August in Manage Cost Accounting Periods
• B. Run the Transfer Transactions toCosting process.
• C. Close the August period; you can never have two open periods at the same time.
• D. Change the number of maximum open periods in Manage Cost Organization Relationships

Answer: B

NEW QUESTION 13
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 lotsdifferently then others
What must they do to accomplish this?

• A. Quick Setup generates valuation units so they just have to access those valuation units and make their changes.
• B. They cannot change their current configuration; data generated by Quick Setup cannot be changed.
• C. They must create their valuation units manually.
• D. Quick Setup generates one valuation unit so they can access this to make changes and manually create new valuation units.

Answer: D

NEW QUESTION 14
You are verifying your distributions for yourtransactions. You Just ran the receipt accounting distribution process. However, your purchase order receipt is not showing up.
What do you need to do for your receipt to show up?

• A. Run the Transactions from Procurement to Costing process.
• B. Run theTransfer Costs from Payables to Cost Management process.
• C. Run the Create Accounting process.
• D. Run the Clear Receipt Accrual Balances process.
• E. Run the Transactions from Receiving to Costing process.

Answer: E

NEW QUESTION 15
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?

• A. Query the transaction from Review Cost Accounting Distributions to see the error message.
• B. Review errors in the Create Accounting Execution report.
• C. Refer to the Accounting Event Diagnostic report.
• D. Refer to the Accounting Event Diagnostic log.E Review errors in the Create Accounting Execution log.

Answer: B

NEW QUESTION 16
Identify two characteristics of an expense pool. (Choose two.)

• A. It helps you analyze under-absorption and over-absorption of expenses that you want to capitalize onto thebalance sheet as inventory value.
• B. It is a user-defined entity that represents a grouping of expenses that you want to absorb with resource and overhead rates.
• C. You can define the name of your expense pool, but you cannot define more than one.
• D. It isused only for analyzing gross margins on noninventory sales of services.

Answer: AB

NEW QUESTION 17
Your customer has a defined financial route that is not the same as the physical route in that it involves intermediate nodes (internal business units) that are not part of the physical supply chain.
Which pair of tasks are required to define and associate routes in Landed Cost Management?

• A. Define the route in Cost and Profit Planning and associate with the Trade Operations Template in Landed Costs.
• B. Define the route in Functional Setup Manager and associate with Trade Operations in Landed Costs
• C. Define the route in Functional Setup Manager and associate with Manage Charge Invoice Associations in Landed Costs
• D. Define the route in Landed Costs and associate with the Trade Operations Template in Landed Costs.
• E. Define the route In Cost and Profit Planning and associate with Trade Operations in Landed Costs

Answer: A

NEW QUESTION 18
Landed Cost Variance Analysis can be performed based on which three dimension combinations?

• A. Business Unit/Landed Cost Charge/Cost Organization
• B. Item/Business Unit/Route
• C. Item Category/Material Supplier/Landed Cost Charge
• D. InventoryOrganization/Landed Cost Charge/Third Party Supplier
• E. Item Catalog/Inventory Organization/Business Unit

Answer: E

NEW QUESTION 19
You need to simulateand estimate landed cost charges associated with purchase order receipts of material. What must you create to make this possible?

• A. Orders
• B. Cost Scenario
• C. Charge Name
• D. Routes
• E. Trade Operation

Answer: E

NEW QUESTION 20
A manager has decided to close the period by not allowing any new transactions, except for correctionsand 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

Answer: B

NEW QUESTION 21
You are configuring Landed Cost Management for client proof of conceptand only want to set up required tasks. Which task must be completed?

• A. Charge Name
• B. Reference Types
• C. Trade Operation Templates
• D. Routes
• E. Trade Operation

Answer: B

NEW QUESTION 22
Your customer wants to run a report to review account balances for bothinventory 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

Answer: AC

NEW QUESTION 23
After "Cost AccountingProcessor" has processed the physical inventory classification of transactions which transaction types will it process next?

• A. In-transit
• B. Retro-reprice
• C. Adjustments
• D. Overhead
• E. Cost of Goods Sold

Answer: D

NEW QUESTION 24
Which three features are included in Receipt Accounting?

• A. Analyze Standard Purchase Cost Variances
• B. Create ReceiptAccounting Distribution
• C. Review Item Costs
• D. Adjust Receipt Accrual Clearing Balances
• E. Review Journal Entries

Answer: BDE

Explanation:
https://docs.oracle.com/en/cloud/saas/supply-chain-management/r13-update17d/faims/implementing-receipt-acc

NEW QUESTION 25
Which two statements are true about Cost Accounting books? (Choose two.)

• A. A cost organization can use secondary books to perform Cost Accounting for different purposes such as currencies, regulatory reporting, or management reporting.
• B. A cost organization has one book that posts to the primary ledger.
• C. Every cost organization must use different book names; they cannot be shared.
• D. Secondary books can post accounting entries into any ledger, including the primary ledgeror any secondary ledger.

Answer: AB

NEW QUESTION 26
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