You are configuring Landed Cost Management for client proof of concept and only want to set up required tasks. Which task must be completed?
A. Charge Name
B. Reference Types
C. Trade Operation Templates
D. Routes
E. Trade Operation
Answer:
B
User Votes:
A
50%
B
50%
C
50%
D
50%
E
50%
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Question 2
Which statement is true regarding the cost cutoff date in Cost Accounting?
A. It only affects whether or not you can process a cost adjustment.
B. Transactions with a transaction date after the cost cutoff date will not be processed until the cost cutoff date is changed to a date that is later than the transaction date.
C. Transactions with a transaction date after the cost cutoff date will not be processed. These transactions will never be processed in any subsequent cost processor run.
D. Transactions with a transaction date before the cost cutoff date will not be processed until the cost cutoff date is changed to a date that is before the transaction date.
Answer:
B
User Votes:
A
50%
B
50%
C
50%
D
50%
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Question 3
Which three predefined areas can you review on the Overview page of Cost Accounting? (Choose three.)
A. Purchase Variance Summary
B. Journal Entries
C. Item CostIdentify two reference types used to tie a receipt trade operation to an expense invoice for landing
D. Cost Processing
E. Work Order Costs
F. Inventory Valuation
Answer:
C,D,F
User Votes:
A
50%
B
50%
C
50%
D
50%
E
50%
F
50%
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Question 4
You have made some changes to your subledger accounting setups for Costing and want to verify that the journal entries are showing up correctly. How can you generate a report that allows you to see the subledger journal entries for transactions without actually transferring to the General Ledger?
A. Run the Create Accounting for Costing process with the following parameters: • Accounting Mode = Draft • Report Style = Detail• Transfer to General Ledger = No • Post in General Ledger = No
B. Run the Transfer Transactions from Inventory to Costing process with the following parameters: Accounting Mode = Draft Report Style = Detail Transfer to General Ledger = No Post in General Ledger = No
C. Run the Create Cost Accounting Distribution process with the following parameters: • Accounting Mode = Draft • Report Style = Detail • Transfer to General Ledger = No • Post in General Ledger = No
D. Run the Create Cost Accounting Distribution process with the following parameters: Accounting Mode = Final Report Style = No report Transfer to General Ledger = No Post in General Ledger = No
E. Run the Create Accounting for Costing process with the following parameters: • Accounting Mode = Final • Report Style = No report• Transfer to General Ledger = No• Post in General Ledger = No
Answer:
A
User Votes:
A
50%
B
50%
C
50%
D
50%
E
50%
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Question 5
Identify two characteristics of an expense pool. (Choose two.)
A. It helps you analyze under-absorption and over-absorption of expenses that you want to capitalize onto the balance sheet as inventory value.
B. It is a user-defined entity that represents a grouping of expenses that you want to absorb with resource and overhead rates.
C. You can define the name of your expense pool, but you cannot define more than one.
D. It is used only for analyzing gross margins on noninventory sales of services.
Answer:
A,B
User Votes:
A
50%
B
50%
C
50%
D
50%
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Question 6
Your customer has asked you to create a report so they can view their receipt accounting distributions along with their receipt accounting transactions. Which subject area would you select to create this report?
A. Receipt Accounting- Receipt Accounting Distributions Real Time
B. Receipt Accounting-- Receipt Accounting Transactions Real Time
C. Costing –Receipt Accounting Real Time
D. Financials-Subledger Accounting-Detail Transactions
E. Costing-Cost Accounting Real Time
Answer:
D
User Votes:
A
50%
B
50%
C
50%
D
50%
E
50%
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Question 7
Which four predefined costing reports can you use to gather information to review inventory value? (Choose four.)
A. Costing Account Balances Report
B. In-transit Valuation Report
C. COGS and Revenue Matching Report
D. Work in Process Inventory Valuation Report
E. Layer Inventory Valuation Report
F. Cost Accounting Valuation Report
G. Inventory Valuation Report
Answer:
A,B,C,D
User Votes:
A
50%
B
50%
C
50%
D
50%
E
50%
F
50%
G
50%
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Question 8
You have an item with two work definitions. One work definition is production priority 1 and named Plan
A. The scenario will choose the work definition that is production priority 1.
B. The cost planning scenario will use both work definitions for the item.
C. The application will generate an error because there are two work definitions for the same item.
D. The application will use the work definition that is named Plan B.
E. While you can have more than one work definition for the same item, the cost scenario has no way to unambiguously select one of them.
Answer:
A
User Votes:
A
50%
B
50%
C
50%
D
50%
E
50%
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Question 9
Which two statements are true about Cost Accounting books? (Choose two.)
A. A cost organization can use secondary books to perform Cost Accounting for different purposes such as currencies, regulatory reporting, or management reporting.
B. A cost organization has one book that posts to the primary ledger.
C. Every cost organization must use different book names; they cannot be shared.
D. Secondary books can post accounting entries into any ledger, including the primary ledger or any secondary ledger.
Answer:
A,B
User Votes:
A
50%
B
50%
C
50%
D
50%
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Question 10
Which four steps need to be completed to establish standard costs for a make item?
A. Run preprocessor.
B. Complete cost roll-up.
C. Publish costs
D. Export item costs.
E. Add standard costs to a cost scenario.
F. Create a new cost scenario.
Answer:
ABCD
User Votes:
A
50%
B
50%
C
50%
D
50%
E
50%
F
50%
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Question 11
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
User Votes:
A
50%
B
50%
C
50%
D
50%
E
50%
F
50%
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Question 12
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
User Votes:
A
50%
B
50%
C
50%
D
50%
E
50%
F
50%
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Question 13
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
User Votes:
A
50%
B
50%
C
50%
D
50%
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Question 14
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
User Votes:
A
50%
B
50%
C
50%
D
50%
E
50%
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Question 15
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.