Oracle Cost Management Cloud 2023 Implementation Essentials : 1z0-1074-23

1z0-1074-23 real exams

Exam Code: 1z0-1074-23

Exam Name: Oracle Cost Management Cloud 2023 Implementation Essentials

Updated: Aug 08, 2026

Q & A: 80 Questions and Answers

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Oracle 1z0-1074-23 Exam Syllabus Topics:

SectionObjectives
Cost Accounting and Processing- Period close and cost rollup
- Cost calculation processes
- Cost accounting distributions
Cost Management Cloud Overview- Key business processes and architecture
- Integration with Oracle SCM Cloud
Setup and Configuration- Cost organization and cost profiles setup
- Costing methods configuration
- Inventory valuation setup
Inventory and Work Order Costing- Manufacturing and work order costing
- Inventory transactions costing
Reporting and Analysis- Cost analysis reports
- Cost reconciliation and audit

Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:

1. 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 Accounts Payable role for the correct cost organization.
B) Create Data Access on the Cost Accountant role for the correct inventory organization.
C) Create Data Access on the Cost Accountant role for the correct cost organization.
D) Create Data Access on the Accounts Payable role for the correct inventory organization.


2. What are three cost method choices that are available in Cost Accounting?

A) Actual cost (FIFO or First In First Out)
B) Actual cost (LIFO or Last In First Out)
C) Period end average cost
D) Periodic average cost
E) Perpetual average cost
F) Standard cost


3. Identify four features provided by the Review Work Order Costs UI when displaying work order

A) Incremental Costs
B) Output Costs
C) Scrap Costs
D) Standard Cost variances
E) Variable Costs
F) Input Costs


4. Identify three Landed Cost Management tasks.

A) Perform Allocations
B) Create Accounting
C) Manage Cost Scenarios
D) Capture Charges
E) Review Journal Entries
F) View Rolled Up Costs


5. 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) The Work Definition is incomplete.
C) Outstanding purchase orders have not been received.
D) Burdens have not been established for the item
E) The item has no on-hand inventory.


Solutions:

Question # 1
Answer: C
Question # 2
Answer: A,B,E
Question # 3
Answer: B,C,D,F
Question # 4
Answer: A,B,D
Question # 5
Answer: A,B

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