IMPACTS OF COST CONTROL ON PRODUCTION COST IN THE MANUFACTURING INDUSTRIES
Table Of Contents
- (i) Title Page(ii) Approval Page(iii) Dedication(iv) Acknowledgement(v) Abstract(vi) Table of ContentCHAPTER ONE1.0 Introduction1.1 Brief history of Nigeria Eagle flour mill1.2 The organization structure of Nigeria Eagle flour Mill1.3 Purpose of the study1.4 The scope and Limitation of the study1.5 Definition of terms1.6 Background of the problem1.7 Objective of the study1.8 Statement of HypothesesCHAPTER TWO2.1 Literature Review2.2 Production Cost2.3 Nature and Element of Cost2.4 Costing System and Cost control2.5 Cost Control Application2.6 Steps in Cost Control2.7 Merits of Cost Control2.8 Cost control in production prerequisites2.9 Needs for Cost Control in the Industries2.10 Effective Of Cost Cutting Strategies To Increase Profit Margins2.11 Method of cost controlCHAPTER THREE3.0 Research Methodology3.1 Research Design3.2 Area of Study3.3 Sample Frame3.4 Sample size3.5 Instrument for data collection3.6 Primary Data3.7 Method of data Collection3.8 Method of Sampling3.9 Field Survey’s Conduct3.10 Data CollectedCHAPTER FOUR4.0 Data presentation, analysis and interpretation, andtesting of Hypotheses4.1 Presentation of data4.2 Presentation and analysis of data according to research Questions4.3 Test of HypothesesCHAPTER FIVE5.0 Summary, Recommendation and Conclusion5.1 Summary5.2 Conclusion5.3 Recommendation Questionnaire References
Thesis Abstract
Cost control is of utmost importance in every business concern, the negligence of which will affect the earning at any point in time. In controlling costs, wastage is eliminated during the course of production and even during the administrative, selling and distribution activities. A good system of cost control begins with the behavior of workers in the organization as workers are instrumental to the achievement of organizational goals. In carrying out this research, budget was considered as the basic tool for achieving effective cost control and the study was concentrated on Nigerian Eagle flour mill Ltd, where cost control was viewed from a strategic perspective. Chi-square model was used in analyzing the data and the hypotheses tested confirmed positive impact of cost control on production cost in manufacturing industries.Thesis Overview
1.0 INTRODUCTION TO CHAPTER ONE
COST: cost is defined by Chartered Institute of Management Accountants (CIMA), as the amount of expenditure incurred on, or attributable to a specified thing or activity.
It can also be referred to as the expenses incurred, in the course of a business, so as to bring products and services to its present state or site. As the expenditure incurred, in an organization is monitored or controlled, the end-effect is that the income of the organization will be maximized (i.e growing positively) and when the reverse is the case, the company might be suffering from substantial loss incurred in its operations.
However, the main goal for setting up a business or manufacturing company is to be able to make profit or better still for the benefit obtainable from an operation to justify the cost incurred.
Although, manufacturers are now willing to accept as a principle, that costing is of value, there is still a considerable lack of appreciation by many of them as to where its value lies.
In order to achieve this main goal, company may differ from one to another, due to the fact that organization operate from different scope and principles. The general method is the application of cost control on production costing so as to minimize cost and maximize profit in the course of production.
Cost control with particular attention to manufacturing organization cannot be over emphasized for such organization to achieve its primary aim and objective.
Cost control is a broad set of cost accounting methods and management techniques with the common goal of improving business cost efficiency by reducing cost, or at least restricting their rate of growth.
Some cost control advocate believe that strategic cost-cutting must be planned carefully, as not all cost reduction technique yield the same benefit.
Cost control therefore becomes an inheritable and indispensable tool in an organization for a positive result to be realized Needless to mention that there are certain cost that can not be monitored or controlled to a certain degree. Examples are light and heat, rent and interest on loan etc.
Blazingprojects Mobile App
📚 Over 50,000 Research Thesis
📱 100% Offline: No internet needed
📝 Over 98 Departments
🔍 Thesis-to-Journal Publication
🎓 Undergraduate/Postgraduate Thesis
📥 Instant Whatsapp/Email Delivery
Related Research
Building.
2 min read
Comparative Analysis of Sustainable Building Practices in Residential versus Commerc...
This research explores the similarities and differences in sustainable building practices used in residential and commercial structures. Sustainable building pr...
BP
Blazingprojects
Botany.
3 min read
Comparative Analysis of Drought Tolerance in Native versus Invasive Grass Species...
This research explores how well native and invasive grass species can tolerate drought conditions, which is important because droughts are becoming more frequen...
BP
Blazingprojects
Biology education.
4 min read
Comparative Analysis of Inquiry-Based versus Lecture-Based Methods in High School Bi...
This research examines two common teaching methods used in high school biology classes: inquiry-based learning and lecture-based teaching. Inquiry-based learnin...
BP
Blazingprojects
Biochemistry.
4 min read
Comparative Analysis of Lipid Profiles in AD Patients and Healthy Controls...
This research focuses on comparing the lipid profiles—measurements of fats and fat-like substances in the blood—of individuals diagnosed with Alzheimer’s ...
BP
Blazingprojects
Banking and finance.
3 min read
Comparative Analysis of Digital Banking Adoption in Developed and Emerging Markets...
This research focuses on understanding how digital banking services are adopted differently in developed countries compared to emerging markets. Digital banking...
BP
Blazingprojects
Art Education.
4 min read
Comparative Analysis of Digital Art Integration in Secondary School Curricula Across...
This research looks at how digital art is included in secondary school teaching in different countries and compares the approaches used. Digital art—using com...
BP
Blazingprojects
Architecture.
4 min read
Comparative Analysis of Biophilic Design Principles in Urban versus Suburban Residen...
This research looks at how designs inspired by nature, known as biophilic design, are applied in houses located in urban and suburban areas. The goal is to unde...
BP
Blazingprojects
Archaeology and Tour.
2 min read
Comparative Analysis of Heritage Site Management and Tourist Engagement Strategies...
This research looks at how heritage sites, such as historical landmarks, castles, or ancient towns, are managed and how tourists are engaged with these sites. T...
BP
Blazingprojects
Animal science.
4 min read
Comparative Analysis of Feed Efficiency in Indigenous and Commercial Chicken Breeds...
This research aims to compare how efficiently Indigenous and commercial chicken breeds convert feed into body mass, which is known as feed efficiency. Feed effi...
BP
Blazingprojects
