Accounting Crossword Puzzle First Year Course Chapters 9 11

Accounting Crossword Puzzle First Year Course Chapters 9 11 Accounting Crossword Puzzle First Year Course Chapters 911 Instructions This crossword puzzle covers key concepts from Chapters 911 of your firstyear accounting course Complete the crossword by filling in the blanks with the correct terms Across 1 A financial statement that summarizes a companys assets liabilities and equity at a specific point in time 10 letters 3 A type of inventory costing method that assigns the cost of the most recent purchases to the units sold 10 letters 5 A cost that does not change in total with changes in activity level within a relevant range 11 letters 8 A measure of profitability that considers the impact of both operating expenses and interest expense 12 letters 9 A financial statement that summarizes a companys revenues expenses and net income or loss over a specific period of time 11 letters 12 A type of variance that measures the difference between the actual cost of direct materials and the standard cost 11 letters 14 A financial statement that shows the movement of cash into and out of a company over a specific period of time 11 letters 16 A cost that changes in total with changes in activity level within a relevant range 13 letters 17 A type of inventory costing method that assigns the cost of the oldest purchases to the units sold 11 letters 19 A technique used to allocate overhead costs to production departments 10 letters 21 A type of variance that measures the difference between the actual quantity of direct materials used and the standard quantity allowed 10 letters 23 A cost that is incurred to produce or acquire a specific product or service 9 letters 25 A type of budget that outlines the expected financial results of a company for a future period 10 letters 2 27 A type of variance that measures the difference between the actual amount of overhead incurred and the budgeted amount 10 letters Down 2 A type of cost that can be directly traced to a specific product or service 9 letters 4 A type of variance that measures the difference between the actual quantity of direct labor hours used and the standard quantity allowed 12 letters 6 A cost that is incurred regardless of the level of activity 9 letters 7 A type of variance that measures the difference between the actual cost of direct labor and the standard cost 12 letters 10 A type of budget that outlines the planned activities of a company for a future period 10 letters 11 A measure of profitability that considers the impact of operating expenses only 12 letters 13 A type of variance that measures the difference between the actual sales revenue and the budgeted sales revenue 11 letters 15 A type of cost that can be easily identified with a specific cost object 11 letters 18 A type of budget that focuses on the anticipated cash inflows and outflows of a company 10 letters 20 A type of cost that is incurred to support a variety of activities but cannot be directly traced to a specific product or service 12 letters 22 A type of inventory costing method that assigns the average cost of all units available for sale to the units sold 12 letters 24 A type of budget that outlines the planned expenditures of a company for a future period 10 letters 26 A type of variance that measures the difference between the actual number of units sold and the budgeted number of units sold 12 letters Answer Key Across 1 BALANCE SHEET 3 LASTIN FIRSTOUT LIFO 5 FIXED COST 8 OPERATING INCOME 9 INCOME STATEMENT 12 MATERIAL PRICE VARIANCE 3 14 STATEMENT OF CASH FLOWS 16 VARIABLE COST 17 FIRSTIN FIRSTOUT FIFO 19 ACTIVITYBASED COSTING ABC 21 MATERIAL QUANTITY VARIANCE 23 PRODUCT COST 25 MASTER BUDGET 27 OVERHEAD VARIANCE Down 2 DIRECT COST 4 LABOR QUANTITY VARIANCE 6 FIXED COST 7 LABOR RATE VARIANCE 10 OPERATING BUDGET 11 GROSS PROFIT 13 SALES VOLUME VARIANCE 15 TRACEABLE COST 18 CASH BUDGET 20 INDIRECT COST 22 WEIGHTEDAVERAGE COST 24 CAPITAL BUDGET 26 SALES ACTIVITY VARIANCE Note This crossword puzzle is designed to be a fun and engaging way for students to review key concepts from Chapters 911 It can be used as a classroom activity homework assignment or study aid