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Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:

1. Which three cost planning tasks can be performed in the Cost Accounting work area?

A) Management Cost Accounting Periods
B) Manage Resource Rates
C) Estimating Standard Costs for Assemblies
D) Review Item Costs
E) Review Work Order Costs
F) Analyzing and Comparing Costs

2. Which four steps need to be completed to establish standard costs for a make item?

A) Export item costs
B) Create a new cost scenario
C) Publish costs
D) Run preprocessor
E) Complete cost roll-up
F) Add standard costs to a cost scenario

3. Which four predefined costing reports can you use to gather information to review inventory value? (Choose four.)

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

4. You are explaining the characteristics of a "profit in inventory" cost element to a client. Which three statements describe true characteristics of this cost element?

A) It can help you with consolidated financial reporting.
B) It is a special type of cost element that helps you keep track of internal markups when inventory is transferred between inventory organizations that are in different business units.
C) It is only used when you do not need to maintain an arm's length relationship.
D) It is a special type of cost element that helps you keep track of internal markups when inventory is transferred between inventory organizations that are in the same business unit.
E) It can help you understand true margins and value added by internal business units through the internal supply chain.

5. 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) Manually create one valuation unit for the normal goods subinventories and one valuation unit for the returned goods subinventory.
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) Manually create one cost profile for the normal goods subinventories and one cost profile for the returned goods subinventory.
D) Create a separate cost organization for the normal goods subinventories and one cost organization for the returned goods subinventory.
E) 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.

Solutions: