Operating expenses and Operating cost

Operating cost and operating expenses are semantically related In some cases you can use "Operating cost" instead a noun phrase "Operating expenses".

Operating cost noun - The expense of maintaining property (e.g., paying property taxes and utilities and insurance); it does not include depreciation or the cost of financing or income taxes.

Operating expenses and operating cost are semantically related in money needed to run a business topic. You can use "Operating expenses" instead a noun phrase "Operating cost".