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

  • Exam Code: 1z0-1074-23
  • Exam Name: Oracle Cost Management Cloud 2023 Implementation Essentials
  • Updated: Sep 11, 2026
  • Q&As: 80 Questions and Answers

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Oracle 1z0-1074-23 Exam Syllabus Topics:

SectionObjectives
Cost Accounting- Cost Processing
  • 1. Review accounting entries and cost adjustments
  • 2. Manage transaction costing
  • 3. Configure cost accounting distributions
Receipt and Acquisition Costing- Procurement Costing
  • 1. Process acquisition costs
  • 2. Manage purchase order receipt costing
  • 3. Analyze landed cost impacts
Manufacturing Cost Management- Production Costing
  • 1. Manage work order costing
  • 2. Process manufacturing cost transactions
  • 3. Analyze resource and overhead costs
Troubleshooting and Analysis- Diagnostics and Exception Handling
  • 1. Review costing errors and exceptions
  • 2. Analyze transaction processing issues
  • 3. Resolve accounting and valuation discrepancies
Cost Management Foundations- Cost Management Architecture
  • 1. Configure cost organizations and cost books
  • 2. Define inventory valuation structures
  • 3. Understand Oracle Cost Management Cloud concepts
Inventory Costing Configuration- Cost Structures and Cost Elements
  • 1. Configure cost elements and cost components
  • 2. Define cost profiles
  • 3. Manage valuation units
Cost Period Close and Reporting- Period-End Activities
  • 1. Reconcile inventory and accounting balances
  • 2. Execute cost accounting period close
  • 3. Generate cost management reports

Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:

Question #1

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. You can only track costs for Direct Labor and Direct Equipment; this requirement cannot be met.
  • B. This requirement will already be met by the default data generated when using Quick Setup.
  • 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.
Answer: B
Question #2

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

  • A. Transfer transactions from the Inventory to the Costing process.
  • B. Update standard costs.
  • C. Transfer transactions from the Payables to the Costing process.
  • D. Allocate charges
  • E. Prepare the Material Purchase Order Data process.
Answer: D,E
Question #3

Identify four characteristics of a cost element.

  • A. It is user-defined.
  • B. It is the most granular level of cost captured by upstream systems such as procurement, accounts payable, and manufacturing.
  • C. The mapping of cost components into cost elements is user-defined.
  • D. It is the granularity at which costs are tracked and accounted.
  • E. It uses date effectivity.
  • F. Users can define any number of cost elements.
Answer: A,B,C,E
Question #4

You can track costs at what granularity level in Cost Accounting for the actual costing method?

  • A. Grade, Serial, Group, Lot
  • B. Subinventory, Lot, Serial, Locator
  • C. Grade, Subinventory, Locator, Serial
  • D. Subinventory. Lot, Serial, Grade
  • E. Subinventory, Make, Lot, Serial
Answer: D
Question #5

How is the standard cost of a manufactured configured item calculated?

  • A. The standard cost of a model item is calculated.
  • B. The standard cost is calculated for every possible combination of options under a model
  • C. It is based on the material and resource requirements of a released work order.
  • D. It is based on the actual cost of the work order after it is completed.
Answer: A

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