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:
A, C, E, F
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Question 2
Which three tasks can be completed in the Receipt Accounting work area?
A. Review and Approve Item Cost Profiles
B. Review Item Costs
C. Create Receipt Accounting Distributions
D. Review Cost Accounting Distributions
E. Manage Accrual Clearing Rules
F. Create Accounting
Answer:
CDE
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Question 3
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. 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
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Question 4
Identify two criteria to select a specific work definition in an inventory organization when defining a cost estimation in a Cost Planning scenario
A. Work definitions without alternates
B. Work definitions with specific unit numbers
C. Work definitions with the highest production priority
D. Work definitions with the lowest production cost
E. Work definitions with the highest costing priority
Answer:
BD
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Question 5
Which two things must your customer check daily in order to ensure that all their purchase order transactions from that day have been accounted for in Receipt Accounting Distribution?
A. Review their audit receipt accrual clearing balances.
B. Review their journal entries, including their sub-ledger accounting events and class where the charges from the purchase orders are going to be charged to.
C. Review their accrual balances and clear them.
D. Review their Receipt Accounting processes that show whether any processes failed and why.
E. Review their distributions that show the debit and credit information specific to the Receipt Accounting transaction selected.
Answer:
BC
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Question 6
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 item has no on-hand inventory.
B. The assembly item is marked as Perpetual Average costed.
C. Outstanding purchase orders have not been received.
D. The Work Definition is incomplete.
E. Burdens have not been established for the item
Answer:
B, D
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Question 7
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. Cost Accounting
C. Landed Cost Management
D. Inventory Management
E. Product Model
Answer:
D
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Question 8
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. Use a different journal entry rule set for each ledger with a different accounting convention.
C. The subledger journal entry rule set does not need the same accounting event class as the accounting method.
D. Journal entry rule sets do not require accounting rules.
E. The subledger journal entry rule set does not need the same accounting event type as the accounting method.
Answer:
C
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Question 9
What are three cost method choices that are available in Cost Accounting?
A. Period end average cost
B. Actual cost (LIFO or Last In First Out)
C. Periodic average cost
D. Standard cost
E. Perpetual average cost
F. Actual cost (FIFO or First In First Out)
Answer:
BEF
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Question 10
Your client wants to turn on summary for GL posting, but they want the Subledger Accounting to contain every transaction unsummarized for detailed analysis and drill down. How do you accomplish this?
A. Turn off merge matching lines in the journal line rule.
B. Turn off the summarize flag in the journal line rule.
C. Write a custom report.
D. Turn on detailed posting for GL in the ledger setup.
E. Extract distribution accounting entries.
Answer:
A
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Question 11
After "Cost Accounting Processor" 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
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Question 12
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
Answer:
D
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Question 13
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
C. Revenue and COGS Matching Report
D. Costing Balances Report
E. Inventory Valuation Report
Answer:
C, A
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Question 14
You have configured your expense items to accrue at receipt. You have created a few purchase orders and want to verify that the supplier invoices have been created. Which accounting entries signal this process has taken place?
A. Debit Charge Account (expense or inventory), Credit Receiving Inspection
B. Debit Accrued Liability, Credit Accounts Payable
C. Debit Receiving Inspection, Credit Accrued Liability
D. Debit Expense, Credit Receiving Inspection
E. Debit Expense, Credit Expense Accrual
Answer:
A
User Votes:
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Question 15
You are trying to import the purchase order information into Receipt Accounting in the Schedule Process work are a. Why can't you see this process?
A. Purchase order information is automatically sent to Receipt Accounting using a real-time method
B. This process can only be scheduled and run from the Receipt Accounting work area
C. You do not have the role to import purchase order information into Receipt Accounting.
D. All purchase order information is included in the Transfer Transactions from Receiving to Costing process. There is no separate process.
E. Purchase order information should not be imported into Receipt Accounting.