In _________, the costs incurred during the creation of a product or services are collected on a cost object (such as production orders, process orders, or sales order). .
Identify the Cost Objects from the below list. Production Order Process Order Product Cost Collectors Projects Client Controlling Area.
The actual costs of the cost object results from ( Please chose the correct ones)
(Simultaneous Costing) Goods movement in Material Management Invoice receipts in FA Confirmations in Production ( PP) Reposting and allocation of overhead in Cost Accounting Primary Postings from FA.
You use _______ of the operation to specify that a goods receipt is to be posted automatically when the last operation is confirmed.
To calculate WIP and variances later, Which option is to be selected Confirmation at Order level Confirmation at Operation Level.
It can use all information from R/3 as a cost driver to assign overhead costs strictly according to the cause. Assessment Distribution Periodic Reposting Template Allocation.
_______ is used when the controlling focus is on concrete quantities Product cost By Order Product cost by Period Sales Order.
Various stages of Product cost by Order Partially Released or Released ( PREL or REL) Partially Delivered ( PDLV) Delivered or Technically complate ( DLV/TECO) None of the above.
When is the WIP calculated in case of Product cost by Order at actual costs. When the Order is Technically Complete or Delivered When the Order is Partially Delivered .
When is the WIP cancelled and the variances is calculated in case of Product Cost By Order When the Order is Technically completed or Delivered When the Order is Partially Delivered.
A client wants to have a controlling focus where the production process is continuous and successive. Which opition he would chose Product cost by Order Product Cost by Period Sales Order.
The Product Cost Collector uses which of the following Settlement Rules PER FUL.
Match the Following Wip is valued at actual Costs Wip is calculated at Target Cost.
What would recommed in case of Repetitive Manufacturing Product Cost Collectors Product Cost by Order Sales Order.
Match the following Wip Calculated based on actual Costs Wip Calculated on Target Costs Variances = actual costs-delivery value Variance = actual costs -delivery vlaue- WIP Should be performed by Period Must be performed by Period .
When Controlling focus is on products and not on the sales order: Use Make to order without product cost by sales order Use make to order with Product cost by sales order.
Make to order without Product cost by sales order : Validate the following statements. When the production controlled is strictly focussed on the product and not on the sales order When the sales order is used only for logistical purposes Additonal period end closing activities have to be performed for the sales order.
A customer is interest in knowing the following:
1) How high is my profit margin from a particular sales order
2) How special sales costs can be mapped.
3) How high will be the funds commitment.
4) Is this sales order performing well from a costing point of view
5) Is the production cost afftectd by the late customer changes.
6) Can reserves be created automatically for the expected losses
7) Manually add reserves for forseen risks
8) Calculated goods in transit where goods have been shipped but not invoiced yet.
He would like to know which opition would best suit if all the requirements are to be fulfilled. Make to order without Product cost by sales order Make to order with Product cost by Sales order Product cost collector Product cost by order.
The settings should be made in customizing for Product cost by Order under Define Values for order types in the manufacturing order if the costs for that order to be collected on a Prouduct cost collector. True False.
Product Cost collector needs to be created Manually before a Production process starts. True False.
Production orders that are linked with the PCC receive the status PCC True False.
When you create the product cost collector you can decide on which level the cost is allocated to the PCC True False.
Match the following Controlling level Production Version Controlling level BOM/Routing.
Match the following for the various controlling levels of PCC PCC created for the characteristics material, Production Plant, Planning plant and Production version PCC created for the characteristics material, Production Plant, Planning plant and BOM and routing. PCC created for the characteristics material, Production Plant, Planning plant .
The order type of the PCC must belong to Order Category 01 02 03 06 05.
Costing Sheet: Meaning The direct costs to which overhead needs to be applied ( calculation base) The conditions under which the over heads are applied.(dependency) Whether overhead is allocated on a percentage basis or on the basis of quantity The amount of overhead percentage or the amount of overhead measure for each unit of measure (overhead) The validity period of overhead Which cost object is credited (cost center,process or order), under which cost element in the case of actual postings.
Prelimanary costing basis Costing lot lize BOM and routing of the production process Costing Variant of the PCC.
Prelimanary costing is used to Determine the activity quanitity to be confirmed in repetetive manufacturing. Valuate work in process Determine production variances and valuate scrap variances Revaluate reporting point quantities if the reporting point structure is changed.
If you are using the controlling level Material by Production Plant/Planning you cannot create a Preliminary cost estimate for the PCC True False.
In repetetive manufacturing the quantities determined in the Preliminary costing can be used a default values for the confirmations. True False.
Match the Following Price Control indicator V Price control indicator S.
Match the following Target Cost version 0 Target Cost version 1 Target Cost version 2 Target Cost Version 3.
In Product Cost by Period , WIP and Scrap are always deducted from the Actual Costs True False.
Match the Following Line id category N Line id Category K.
You assign a valuation variant for work in process and scrap to a combination of controlling areas, Result Analysis Version and Result Analysis Key. True False.
In Product cost by Period The WIP is calculated on Standar Cost Target Cost Preliminary Cost Current Cost .
Standard Cost Estimate includes Planned component Scrap True False.
Scrap Variance is always calcuated with the Valuation Variant entered in Target Cost Version 0 True False.
Variance can only be calculated on a cost object only if a __________ is stored in the master record Vairance Key Overhead Key Costing Key.
Variance Key can be defined at Planned level and shall apply to all material master records created in the plant True False.
Match the following with reference to Settlement The prices difference is debited to Price difference account and inventory change account is credited The Price difference is debited to Inventory Account and Credits Inventroy change account.
If you are manufacturing on the basis of process orders, the system uses a _______ and the relevant _________ in accordance with the parameters for the order type specified in Customizing for Production Planning -Process Industries. Master Recipe,Material Lists Material Lists, Master Recipe.
A Master Recipe: Validate the following statements. Contrains Operations and Phases Operations consolidate several phases Phase is a self contained work step that describes one part of the production process in detail. Operation and phases can use Secondary resources in addtion to the Primary resource.
In process manaufacturing only the phases and not the operations are relevant to costing. True False.
The Standard values in Phases are not used to determine dates, capacity requirement and costs. True False.
Which Indicator must be selected for the Phase in Process Orders Control Indicator Operation Indicator Costing Indicator Relevant to Costing Indicator.
You can add or delete co-producets from a material list True False.
Different types of Materials: Input Material Output Material Inter Material Intra Material Remaining Material Circulating Material Revolving Material.
Input Material: Raw Material and semin finished products used in the manufacturing process Are debited to the Manufacturing order when are withdrawn from the Inventory ( goods issue posting) Are temporty and exists only between production phases.
Intra Materials: is temporaory and exists only between production phases or within production phases Are not costed are valuated only in case of an interruption in the process and is put into inventory , based on the valuation variant for the valuation of good received.
You can specify in the material list whether a cost of the catalyst is taken into account. True Not true, the cost is automatically taken into account. .
If the circulating material is flagged for costing, the material cost appears in the itemization list once with a plus sign and once with a minus sign. The difference is treated as material usage costs. True False.
The standard costs,planned cost and the actual cost of the individual co products are calculated: automatically by the system manually calcualted Calculated using the apportionment structure that is specified in the Material Master.
If a material is a Co-product you select the Co-product indicator in the ______ view or _______ view of the material master record. MRP, costing costing, Accounting accounting, MRP.
In the Material Master all the Co-Products appearin with a negative value True False.
By- products are entered with a negative quantity in the Material Master list True False.
Co-product indication must be selected in the Material master record or in the BOM for By-products also. True False.
If the by-product is flagged for relevant to costing the cost of the co-product is reduced from the manufacturing costs using the net realizable value method.. True False.
The system valuates the planned quantities of the Material Components using the Materia list. True False.
The system valuates the planned activity quantities using the master recipe. True False.
The order costs are calculated in the order header and distributed to the co products on the basis of equivalence numbers specified in the apportionment struture. True False.
When a process order is created: The system automatically generate a settlement rule on the basis of the approtionment structure The system generates a settlement rule for each item in accordance with the default rule. .
Process orders are of order type 5 10 50 40.
The variances for the process order is determined when the order is Partially delivered Fully delivered or technically completed Release Partially released.
With unit costing you can see the cost component split False True.
Costing results are updated as plan values to the sales order item True False.
Overheads for sales and administration are calculated using ________of the requirement level. Overheads for material and production costs are calcualted using the pricing procedure of the ___________ of the costing variant. pricing procedure, valuation variant valuation variant, pricing procedure costing variant,valuation variant valuation variant,costing variant.
Match the following Chose this condition type to display the sales order cost estimate and use the same for price calculations Chose this condition to use the sales order costing purely for statistical purposes.
You use valuated stock if you want to post the Good Movements to have corresponding postings FI True False.
You use Non Vauated Stock if you Do Not want to post the transactions to FI on Good movement False True.
Scrap can be valuated in case of Product Cost Collector True False.
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