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

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

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

4. Identify two ways that standard cost is calculated.

A) The standard cost is the sum of the cost of the selected option items.
B) The cost of a configured item is calculated based on the work definition of the model item.
C) The standard cost of the configured item is based on the purchase order price quoted by the supplier for the configured item.
D) Users must manually enter the cost of each configured item; the calculation is not automated.
E) The roll-up calculation can be performed to update standard costs for Cost Accounting purposes

5. Identify four processors available in the cost processor.

A) Cost Accounting Processor
B) Cost Distribution Processor
C) Costing Period Processor
D) Receipt Processor
E) Cost Reports Processor
F) Cost of Goods Sold Processor

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