Question:3 _______ costing is a method used to allocate _______ costs to specific _______ based on the actual consumption of resources by each _______. This approach provides a more accurate reflection of how costs are incurred in a production process compared to traditional _______ costing methods. In _______ costing, variable costs such as direct materials and direct labor are allocated directly to _______. Fixed overhead costs are allocated based on predetermined _______ rates. However, it's important to note that _______ costing doesn't account for the complexities introduced by _______ costs, which can make it less precise in situations with high _______ variations.