Cost Terminologies Crossword Puzzle

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FIXED COST: Expenses that remain constant regardless of activity level.
COST ACCUMULATION: This refers to collecting and identifying cost data with specific customers, jobs, batches, orders, departments and processes.
DIRECT COST: Directly traceable to a specific cost object.
DIRECT LABOR: Wages paid to workers who directly convert raw materials into finished products.
INDIRECT COST: Expenses not directly traceable to a specific product or service, often shared across various activities or departments.
COST OF GOODS SOLD: Direct costs associated with producing goods sold during a period.
RAW MATERIALS: Unprocessed or minimally processed resources that are the basic ingredients used to manufacture finished products.
VARIABLE COST: Expenses that change proportionately with activity level.
ACTUAL COST: Amount determined on the basis of costs incurred including standard cost properly adjusted for applicable variance.
COST ACCOUNTING: Specialized branch of accounting used in determining the unit cost and the total cost in product costing as well as in service costing.

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QUESTIONS LIST:

fixed cost: expenses that remain constant regardless of activity level.
cost accumulation: this refers to collecting and identifying cost data with specific customers, jobs, batches, orders, departments and processes.
direct cost: directly traceable to a specific cost object.
direct labor: wages paid to workers who directly convert raw materials into finished products.
indirect cost: expenses not directly traceable to a specific product or service, often shared across various activities or departments.
cost of goods sold: direct costs associated with producing goods sold during a period.
raw materials: unprocessed or minimally processed resources that are the basic ingredients used to manufacture finished products.
variable cost: expenses that change proportionately with activity level.
actual cost: amount determined on the basis of costs incurred including standard cost properly adjusted for applicable variance.
cost accounting: specialized branch of accounting used in determining the unit cost and the total cost in product costing as well as in service costing.