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Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:

1. Which two steps need to be completed to estimate landed costs?

A) Prepare the Material Purchase Order Data process.
B) Update standard costs.
C) Transfer transactions from the Payables to the Costing process.
D) Transfer transactions from the Inventory to the Costing process.
E) Allocate charges

2. There are freight charges on an invoice. Which two setups are required to get create accounting to enter a separate accounting line for it?

A) Account Class must be set to Freight.
B) Line Type must be set to Freight.
C) Create a condition for a journal line for freight.
D) Sub ledger accounting is set up to accomplish this out-of-the-box.

3. 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 cost component to cost element mapping.

4. Your client is using Quick Setup to implement Costing. They have a requirement to track costs for manufacturing overhead. How can you make sure that this requirement is met?

A) This requirement will already be met by the default data generated when using Quick Setup.
B) You can only track costs for Direct Labor and Direct Equipment; this requirement cannot be met.
C) Create the cost in Manage Cost Scenarios.
D) Complete Quick Setup and then create the user-defined cost using the Manage Cost Component task.

5. 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 inventory 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 cost organization.

Solutions: