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MB7-255 - Navision 4.0 Costing - Dump Information

Vendor : Microsoft
Exam Code : MB7-255
Exam Name : Navision 4.0 Costing
Questions and Answers : 153 Q & A
Updated On : October 18, 2017
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MB7-255 Questions and Answers

MB7-255


QUESTION: 145

What is the material cost for a purchased component with the following specifications? Quantity required: 100 Scrap percentage: 20 Direct standard cost 1 LCY


  1. 102

  2. 200

  3. 110

  4. 120


Answer: D


QUESTION: 146

When running the Suggest Item Cost function for the Standard Cost Worksheet, how do you show that there is no change of cost in the Adjustment Factor fields?


  1. 0

  2. 1

  3. Leave blank

  4. Enter a-


Answer: B


QUESTION: 147

What is the capacity cost for an item with the following specilications? Set up time: 1 hours Run time: 2 hours Unit cost of operation: 10 LCY Lot size: 10


  1. 21

  2. 12

  3. 120

  4. 210


QUESTION: 148

Which of the following are true statements with regards to WIP inventory?


  1. A purchased component becomes part of the WIP inventory from the time of posting a purchase as invoiced

  2. A purchased/subassembled component remains part of the WIP inventory until the time of posting its consumption in connection with a production order

  3. A purchased/subassembled component remains part of the WIP inventory until the time of posting its consumption in connection with a purchase order

  4. A purchased component becomes part of the WIP inventory from the time of posting a purchase as received


Answer: A, B


QUESTION: 149

When is a production order marked as Completely Invoiced?


  1. Invoicing takes place when the production order status is changed to Finished

  2. Invoicing takes place when the Adjust Cost - Item Entries batch job is run after the production order status has been changed to Finished

  3. Invoicing takes place when the production order status is changed to Complete

  4. Invoicing takes place when the Adjust Cost - Item Entries batch job is run after the production order status has been changed to Complete


Answer: B


QUESTION: 150

What is the formula for calculating inventorty value?


  1. Beginning WIP inventory + manufacturing cost - cost of goods sold

  2. Beginning balance of inventory + manufacturing cost - cost of goods sold


  3. Beginning WIP inventory + value of all increases - value of all decreases

  4. Beginning balance of inventory + value of all increases - value of all decreases


Answer: D


QUESTION: 151

What ways can you fill the revaluation journal with information about the current value of a specified item


  1. Enter a journal line manually

  2. Use the Adjust Cost - Item Entry batch job

  3. Use the e Post Inventory to G/L batch job

  4. Use the Calculate Inventory Value batch job


Answer: A, D


QUESTION: 152

What costing method represents an assumption that individual units of items can be physically identified?


  1. FILO

  2. LIFO

  3. Standard

  4. Specific


Answer: D


QUESTION: 153

Costs associated with manufacturing labor and capacity are always capitalized on the basis of what costs?


  1. Actual

  2. Acquisition

  3. Standard


  4. Material


Answer: C


Microsoft MB7-255 Exam (Navision 4.0 Costing) Detailed Information

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    Microsoft Certified IT Professional for NAV 5.0 Impossible ??

    In reply to santuco:

    santuco

    This mean that i should have  the Financial Exam for 2009 ( MB7-839) and forget about the 5.0 exam that i passed ( MB7-515 )

    No, this still counts for certification...

    santuco

    I already scheduled for monday Trade and Inventory 5.0 ( MB7-638 ). Should i give up...

    Again no - you can pass it and it WILL count....

    As some of the required exams currently are available only for v2009 (v4 expired, for v5 never have been released), THESE are the ones you have no other way than passing v2009 - Service Management, for example.In that manner you CAN collect a mix of passed v5 and v2009 exams, giving you the "MCP Applications" certification.

    BUT - if you are looking towards gaining this certification, it makes sense to do it for the latest Navision version - and you do not need to start preparing from ground up, as v2009 exams differ from v5 only in the part of what is new in v2009.

    Some application areas had no or minimal additionschanges over different versions, I think that is the reason why some exams haven't ever had a special, say, v5 version, only v4 and then v2009, leaving v5 out in this chain. Now MS has "expired" these v4 ones to enforce us to pass newer exams... But MS "is the boss" and we can't do anything there

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    2 Question: 1 An item has two purchase entries, 020404 and 030604. Each purchase was for 10 items with a direct cost of 50 LCY and 60 LCY, respectively. What would the direct cost be if a transfer occurred on 030504, using the average costing method? A - 55 B - 60 C - 50 D - 45 Answer: C Question: 2 What is the generic formula for calculating the total acquisition cost of an item? A - Purchase costs (+ discounts) + additional acquisition costs + indirect costsiscounts) additional acquisition costs + indirect B - Purchase costs (- discounts) + additional acquisition costs - indirect costsiscounts) + additional acquisition costs indirect co C - Purchase costs (+ discounts) + additional acquisition costs + direct costsiscounts) + additional acquisition costs + direct co D - Purchase costs (- discounts) + additional acquisition costs + indirect costsiscounts) additional acquisition costs + indirect c Answer: D Question: 3 Which of the following costing methods are supported by Microsoft Navision?costing methods are supported by Microsoft Navisi A - Standard B - Specific C - Average D - FILO Answer: A, B, C Question: 4 What is the calculation for finding the value of ending inventory? A - Beginning inventory + net purchases - manufacturing cost B - Beginning inventory + net purchases - cost of goods sold C - Beginning inventory + value of all increases - value of all decreases D - Beginning inventory + manufacturing cost - cost of goods sold Answer: B Question: 5 How does Microsoft Navision treat customer and vendor returns? A - Both are considered an increase in inventory B - They are a decrease and increase, respectively to inventory C - Both are considered a decrease to inventory D - They are an increase and decrease, respectively, to inventory Answer: D Question: 6 How does Microsoft Navision allow for the creation of lines for the items for which you want alow for the creation of lines for the physical count in the Phys. Inventory Journal?entory Journal?

    3 A - The Calculate Accounting Period function B - Manually C - The Calculate Physical Inventory function D - The Calculate Inventory function Answer: B, D Question: 7 How are the expected inventory costs posted to the GL for a receipt that is posted as invoiced? A - Credited to the Inventory (Interim) account B - Debited to the Inventory account C - Credited to the Direct Cost Applied account D - Debited to the Inventory Accrual (Interim) account Answer: A, D Question: 8 According to the Physical Inventory Journal, you are supposed to have 1250 units of item A. Aftercal Inventory Journal, you are supposed to have 12 completing a physical inventory count, you discover that you are 1 09 units short. How do younventory count, you discover that you are 09 unit input this difference into Microsoft Navision? Microsoft Navision? A - On the Physical InventoryJournal, enter-109 in the Quantityfield and postentoryJournal, enter-109 in the Quantityfield and p B - On the Physical InventoryJournal, enter-109 in the Qty (Physical) field and postentoryJournal, enter-109 in the Qty (Physical) field C - On the Physical Inventory Journal, enter 1141 in the Quantity field and postentory Journal, enter 1141 in the Quantity field and D - On the Physical Inventory Journal, enter 1141 in the Qty (Physical) field and postentory Journal, enter 1141 in the Qty (Physical) fiel Answer: D Question: 9 What is the posting date for the rounding value entry for an item using the standard costing for the rounding value entry for an item using the method and the following information? information? A - 050504 B - 050704 C - 050804 D - 051504 Answer: A Question: 10 How does Microsoft Navision handle posting cost adjustments after the accounting period if the occurred cost has been closed? A - The original accounting period for the occurred is reopened and the cost adjustments areiod for the occurred is reopened an made

    4 B - The cost adjustments are applied to the current open accounting period C - As long as the year-end process has not run, cost adjustments can be posted to any period D - The cost adjustments are applied to the next open accounting period Answer: B Question: 11 In which of the following scenarios will a decrease in inventory be affected by revaluation? A - The entry number is later than the revaluation entry number and the posting date is later than the revaluation posting date B - The entry number is earlier than the revaluation entry number and the posting date is later than the revaluation posting date C - The entry number is earlier than the revaluation entry number and the posting date is equal to than the revaluation posting date D - The entry number is later than the revaluation entry number and the posting date is earlier later than the revaluation entry number and the p than the revaluation posting date posting date Answer: A, B, D Question: 12 Microsoft Navision handles rounding for which of the costing methods?dles rounding for which of the costing methods? A - Average B - FIFO C - LIFO D - Weighted Answer: A, B, C Question: 13 For which of the following value tjpes can Microsoft Navision create separate value entries?ng value tjpes can Microsoft Navision create separ A - Direct cost B - Rounding C - Variances D - Scrap Answer: A, B, C Question: 14 An item has two purchase entries, 020404 and 030604. Each purchase was for 10 items with a direct cost of 50 LCY and 60 LCY, respectively. What would the value of a 8 item transfer be if it occurred on 030704, using the FIFO costing method? A B C D Answer: B Question: 15 Microsoft Navision supports which of the following cost flow assumptions?ich of the following cost flow assu

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