COST CONTROL AND ITS EFFECT IN THE MANUFACTURING INDUSTRIES
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
With the attendant development in Hi tech material souring and government economic policies, manufacturing sector is becoming more complex and completive as day price of our locally manufactured goods is of public concern. The increase in prices of our attributed to high cost of production of goods. It is therefore for this reason that the need for control arose. Beside the government policy of privatization and commercialization calls for preparedness on the part of manufacturing sector to square up for the stiff competition.
Cost control becomes imperative when one looks at the objectives of firms which among other thing include making as much profit as possible to satisfy the investors, becomes a good corporate entity to customers, government, local community and other external members. All these arms are tied to the cost control measures.
Cost control be done in two ways:
Operating and accounting controls.
Controlling cost through personal observation and supervision of operations does operating control. Such control attempts to minimize wasted other costs. And accounting control on the other hand entails the creation of a system of recording, which will establish accountability for cost that is comprise with standard. It is therefore against this background that this study and attempts to critically X – ray the effects of cost control in a manufacturing organization or company.
Metro best international is a bakery which engages in the baking of high quality bread-Chisco bread. There product is highly competitive in Enugu and
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