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1. In a manufacturing plant, two purchase components P1 and P2 and a resource R1 are required to assemble a product. The cost of the assembly is calculated by using the standard costing method. The work definition and resource rates of the assembly have been defined as required.
A cost accountant is estimating cost of the assembly, analyzing rolled-up costs before finally publishing estimates as frozen standards to cost accounting by using a cost planning scenario. While reviewing rolled up costs, the extended costs of purchase components are not included in a rolled-up scenario.
Identify the reason.
A) Create Accounting was not initiated.
B) Create Accounting Distributions was not initiated.
C) Costs for purchase components P1 and P2 are not defined in cost accounting.
D) Purchase components P1 and P2 are not associated with Material cost plan of the cost planning scenario.
2. In a manufacturing plant, the work definition and rate plans of Material, Resource, and Overhead of an assembly have been defined as required.
A cost accountant created different scenarios to represent different manufacturing and cost assumptions and compare the results. When the cost assumptions are finalized, the cost accountant is expected to publish the cost scenario to cost accounting.
Identify three process steps that the cost accountant has to perform to transfer the assembly to cost accounting in frozen type.
A) Publish cost planning scenario to Accounting.
B) Transfer Transactions from Inventory to Costing.
C) Define a cost planning scenario with Material, Resource, Overhead cost plans, and work definition.
D) Create Accounting Distributions.
E) Transfer transactions from production to Costing.
F) Build cost planning scenario and perform cost roll up.
3. Your customer has completed the required setup steps for automatic work definition. Identify the option that shows the navigation steps needed to create an automatic work definition.
A) Manufacturing > Work Definition> Manage Work Definitions> Actions> Create automatic work definition
B) Manufacturing > Work Definition> Manage Standard Operations> Create automatic definition
C) Product Management> Product Information Management> Items> Edit Item > Actions> Create automatic work definition
D) Manufacturing> Work Definition> Manage Standard Operations> Select default standard operation> Actions> Create automatic work definition
4. While creating an item in Product Information Management (PIM), the following two item templates are selected in sequence and applied.
1. Template: Finished Goods (WIP = No, Customer Ordered = Yes)
2. Template: Sub-assembly (WIP = Yes, Customer Ordered = No)
Identify the Item Attribute values in the application.
A) WIP = Yes, Customer Ordered = Yes
B) WIP = No, Customer Ordered = No
C) WIP = Yes, Customer Ordered = No
D) WIP = No, Customer Ordered = Yes
5. The Manufacturing plant has two 8-hour shifts for the work center WC1: Day Shift and Night Shift. You associate four units each for resources R1, R2, R3, and R4 to the work center WC1. The customer wants to assign all units of resource R2 available for Day and Night Shift.
Identify the correct sequence of steps to achieve this requirement.
A) Associate Resource R2 with Work Center WC1> Select Available 24 Hours check box> Resource Availability region> Enter 4 in Day Shift Column> Enter 4 in Night Shift Column.
B) Associate Resource R2 with Work Center WC1> Deselect the Available 24 Hours check box> Resource Availability region> Enter 2 in Day Shift Column> Enter 2 in Night Shift Column
C) Associate Resource R2 with Work Center WC1> Select the Available 24 Hours check box> Resource Availability region> Enter 2 in Day Shift Column > Enter 2 in Night Shift Column.
D) Associate Resource R2 with Work Center WC1> Deselect the Available 24 Hours check box> Resource Availability region> Enter 4 in Day Shift Column> Enter 4 in Night Shift Column.
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: B,C,D | Question # 3 Answer: D | Question # 4 Answer: D | Question # 5 Answer: C |
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