Pass Oracle Oracle Cost Management Cloud 2020 Implementation Essentials Exam in First Attempt Guaranteed Updated Dump from PassSureExam!
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NEW QUESTION 27
Your client only wants to cost inventory items and third party costs. Which two modules are they required to implement to ensure this functionality?
- A. Receipt Accounting
- B. Inventory Management
- C. Landed Cost Management
- D. Cost Accounting
- E. Product Model
Answer: B
NEW QUESTION 28
A chart of accounts (COA) must be specified on the accounting method for which two situations?
- A. When using account combination rules
- B. When using segment rules
- C. When using ledgers that have unique accounting requirements
- D. Every accounting method should have a COA.
- E. When account combination rules use constants
Answer: B,D
NEW QUESTION 29
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 Cost Organization
- C. Business Unit and Inventory Organization
- D. Business Unit and Legal Entity
- E. Legal Entity and Cost Organization
- F. Inventory Organization and Legal Entity
Answer: C
NEW QUESTION 30
Identify three Landed Cost Management tasks.
- A. Capture Charges
- B. Create Accounting
- C. View Rolled Up Costs
- D. Manage Cost Scenarios
- E. Review Journal Entries
- F. Perform Allocations
Answer: A,B,F
Explanation:
https://docs.oracle.com/en/cloud/saas/supply-chain-management/18b/faims/implementing-landed-cost-management.html#FAIMS1854624
NEW QUESTION 31
Identify four processors available in the cost processor.
- A. Cost Reports Processor
- B. Cost Distribution Processor
- C. Cost of Goods Sold Processor
- D. Cost Accounting Processor
- E. Costing Period Processor
- F. Receipt Processor
Answer: A,B,C,D
Explanation:
https://docs.oracle.com/en/cloud/saas/supply-chain-management/r13-update17d/fapma/manage-cost-accounting.html#FAPMA146491
NEW QUESTION 32
Which three features are included in Receipt Accounting?
- A. Review Item Costs
- B. Adjust Receipt Accrual Clearing Balances
- C. Create Receipt Accounting Distribution
- D. Review Journal Entries
- E. Analyze Standard Purchase Cost Variances
Answer: B,C,D
Explanation:
https://docs.oracle.com/en/cloud/saas/supply-chain-management/r13-update17d/faims/implementing-receipt-accounting.html#FAIMS1921270
NEW QUESTION 33
What are three cost method choices that are available in Cost Accounting?
- A. Period end average cost
- B. Perpetual average cost
- C. Periodic average cost
- D. Actual cost (LIFO or Last In First Out)
- E. Actual cost (FIFO or First In First Out)
- F. Standard cost
Answer: B,D,E
NEW QUESTION 34
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 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
- 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 the contract manufacturing service Item. This is the price that the contract
- 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
Answer: B,E
NEW QUESTION 35
Select two ways to define the standard cost for an item from the Cost Accounting work area.
- A. Import standard costs from receipt layers.
- B. Manage the Item Cost task.
- C. Manage the Standard Cost task.
- D. Create Standard Cost in a spreadsheet.
Answer: B,D
NEW QUESTION 36
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. They must create their valuation units manually.
- B. Quick Setup generates valuation units so they just have to access those valuation units and make their changes.
- C. They cannot change their current configuration; data generated by Quick Setup cannot be changed.
- 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 37
Identify four characteristics of a cost element.
- A. It is user-defined.
- B. Users can define any number of cost elements.
- C. It is the most granular level of cost captured by upstream systems such as procurement, accounts payable, and manufacturing.
- D. It uses date effectivity.
- E. The mapping of cost components into cost elements is user-defined.
- F. It is the granularity at which costs are tracked and accounted.
Answer: A,C,D,E
NEW QUESTION 38
You are establishing the cost for a make assembly. When we run Cost Rollup, it is not rolling up and the Assembly shows "0" cost. However, item costs are available for child (buy) components. In the review work order cost, we are able to see child components costs, but not the rollup cost of the assembly.
Identify two reasons this happened.
- A. The assembly item is marked as Perpetual Average costed.
- B. Burdens have not been established for the item
- C. The item has no on-hand inventory.
- D. Outstanding purchase orders have not been received.
- E. The Work Definition is incomplete.
Answer: A,E
NEW QUESTION 39
Identify two ways that standard cost is calculated.
- A. The standard cost is the sum of the cost of the selected option items.
- B. Users must manually enter the cost of each configured item; the calculation is not automated.
- C. The standard cost of the configured item is based on the purchase order price quoted by the supplier for the configured item.
- D. The roll-up calculation can be performed to update standard costs for Cost Accounting purposes
- E. The cost of a configured item is calculated based on the work definition of the model item.
Answer: A,D
NEW QUESTION 40
You need to simulate and estimate landed cost charges associated with purchase order receipts of material. What must you create to make this possible?
- A. Routes
- B. Charge Name
- C. Trade Operation
- D. Cost Scenario
- E. Orders
Answer: C
NEW QUESTION 41
Which two outcomes can happen in create accounting when an account combination returned is end dated?
- A. An alternate account will be used if provided.
- B. The preprocessor will pre-warn about this error.
- C. An error will always occur.
- D. Suspense accounts cannot be used.
- E. The original account is stored on the journal line.
Answer: A,E
Explanation:
https://docs.oracle.com/en/cloud/saas/financials/18b/faisl/subledger-accounting-setup.html#FAISL212668
NEW QUESTION 42
Your client has accounting rules that need specific customization. Which two options allow them to accomplish this"1
- A. Copy and rename predefined subledger journal entry rule sets before modifying them.
- B. The subledger journal entry rule set does not need the same accounting event class as the accounting method.
- C. Journal entry rule sets do not require accounting rules.
- D. Use a different journal entry rule set for each ledger with a different accounting convention.
- E. The subledger journal entry rule set does not need the same accounting event type as the accounting method.
Answer: B
NEW QUESTION 43
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. 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."
- C. Create a separate cost organization for the normal goods subinventories and one cost organization 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. Manually create one cost profile for the normal goods subinventories and one cost profile for the returned goods subinventory.
Answer: B
NEW QUESTION 44
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. Closed
- B. Open
- C. Permanently Closed
- D. Close Pending
- E. Never Opened
Answer: A
NEW QUESTION 45
Which statement is true regarding the cost cutoff date in Cost Accounting?
- A. It only affects whether or not you can process a cost adjustment.
- B. Transactions with a transaction date before the cost cutoff date will not be processed until the cost cutoff date is changed to a date that is before the transaction date.
- C. Transactions with a transaction date after the cost cutoff date will not be processed until the cost cutoff date is changed to a date that is later than the transaction date.
- D. Transactions with a transaction date after the cost cutoff date will not be processed. These transactions will never be processed in any subsequent cost processor run.
Answer: C
NEW QUESTION 46
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