Free PDF 1Z0-1074-26 - Oracle Cost Management Cloud 2026 Implementation Professional–Efficient Exam Assessment

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Oracle 1Z0-1074-26 Exam Syllabus Topics:

Section	Objectives
Cost Analysis and Reporting	- Cost reports and inquiries - Cost reconciliation and variance analysis
Integration with Oracle Cloud Applications	- Integration with Inventory and Manufacturing - Integration with Financials and Subledger Accounting
Cost Management Overview	- Cost accounting concepts in Oracle Cloud - Costing methods and principles
Cost Processing	- Resource and overhead costing - Material cost accounting - Cost distribution and adjustments
Setup and Configuration	- Subledger accounting configuration - Cost organization and cost book setup - Inventory valuation and accounting setup

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Oracle Cost Management Cloud 2026 Implementation Professional Sample Questions (Q64-Q69):

NEW QUESTION # 64
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. Create the cost in Manage Cost Scenarios.
C. Complete Quick Setup and then create the user-defined cost using the Manage Cost Component task.
D. You can only track costs for Direct Labor and Direct Equipment; this requirement cannot be met.

Answer: A

Explanation:
Reference:

NEW QUESTION # 65
Which four statements describe what is unique about Cost Accounting for items received into inventory as consigned?

A. The quantity is tracked in inventory but not as an asset until there is an ownership event
B. Consigned items cannot appear on inventory reports with information about the eventual value of the consigned item.
C. The liability for a consigned item occurs when there is an ownership event.
D. There is no difference between owned inventory and consigned inventory.
E. Consigned items can appear on inventory reports with information about the eventual value of the consigned item
F. A consumption can automatically trigger a momentary ownership transaction before the consumption transaction.

Answer: B,C,D,E

Explanation:
Reference:

NEW QUESTION # 66
Your client wants to set up some of their items as expense items and then enable them to be accrued at period end for one of their business units.
Which two configurations will support this request?

A. Product Information Item > Search and select item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to "No".
B. Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at Period End.
C. Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at At Receipt.
D. Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals > Set Accrue Expense Items to Period End.
E. Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals > Set Accrue Expense Items to At Receipt.
F. Product Information Item > Search and select the expense item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to "Yes".

Answer: B,E

Explanation:
Reference:

NEW QUESTION # 67
Identify the four types of cost adjustments.

A. When a supplier invoice is processed in accounts payable, it can cause an adjustment to the inventory value and the cost of goods sold if the amounts processed for payment are different from the estimated amount on the purchaseorder.
B. Authorized users can manually create cost adjustments.
C. A standard cost update will create an inventory value adjustment.
D. A change to a requisition after the purchase order has been created will create a cost adjustment. D. A revenue recognition event, which in turn triggers a cost of goods sold recognition event, can cause a cost adjustment.
E. A retroactive purchase order price adjustment can cause an adjustment to the inventory value and the cost of goods sold.

Answer: A,B,C,E

NEW QUESTION # 68
Your client wants their expense items to be accrued at receipt. Which two configurations support this requirement?

A. Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at Period End.
B. Product Information Management > Search and select the expense item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to "Yes".
C. Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at At Receipt.
D. Product Information Management > Search and select item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to "No".
E. Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals > Set Accrue Expense Items to Period End.
F. Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals > Set Accrue Expense Items to At Receipt.

Answer: D,F

Explanation:
Reference:

NEW QUESTION # 69
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