• Exam Code: 1z0-1074-23
  • Exam Name: Oracle Cost Management Cloud 2023 Implementation Essentials
  • Certification Provider: Oracle
  • Corresponding Certification:Cost Management Cloud
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Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:

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


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


3. Identify two purposes of Sub ledger Accounting.

A) to create accounting strings that can be viewed and corrected just before they are transferred to the General Ledger
B) to maintain backward compatibility
C) to calculate costs for transactions
D) to obtain detailed information for audit purposes since all sub ledger accounting is at the detail level
E) to centralize accounting string generation across all modules


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

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


5. What are three cost method choices that are available in Cost Accounting?

A) Standard cost
B) Period end average cost
C) Actual cost (FIFO or First In First Out)
D) Perpetual average cost
E) Periodic average cost
F) Actual cost (LIFO or Last In First Out)


Solutions:

Question # 1
Answer: A
Question # 2
Answer: B
Question # 3
Answer: A,C
Question # 4
Answer: D,E
Question # 5
Answer: C,D,F

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