THE IMPACT OF COSTING TECHNIQUES ON PROFITABILITY OF A MANUFACTURING COMPANY
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 3000
ABSTRACT
This study sought to analyze costing techniques and their impact on profitability of manufacturing companies. An increase in cost (operational and production costs) which added to reduced profitability in the manufacturing sector produced the need to address the problem through this research. The study was limited to costing in manufacturing industry and as such it did not extend to other sectors of the economy. It was based on the assumption that all the responses from the company Primeseed.co represented other manufacturing companies. Descriptive research approach was used to fully satisfy the objective of the study as it gave the researcher to obtain important and useful data which was valid and reliable. Quantitative and Qualitative approaches were used to collect data. Primary data was obtained from a target population of 30 employees from departments of Primeseed.co. Major research findings showed that costing techniques have a positive impact on the profitability of manufacturing companies as reducing costs directly reflect an increase in the level of profits of an organization, it was evident that element of costs such as materials, labor and overhead costs and workers behavior could be strategically controlled with techniques like budgetary control, standard costing and variance analysis, accounting to achieve higher profit levels. In controlling costs a good costing system is required to minimize costs as wastages is eliminated and inefficiencies reduced during production and throughout an organization. Also from the findings, increase in labor costs, material wastages, increase in repairs and maintenance cost and decrease in operational performance were the effects of implementing weak costing techniques.
Related Project Materials
THE ROLE OF EARLY CHILDHOOD EDUCATION IN FOSTERING RELIGIOUS TOLERANCE
ABSTRACT: The role of early childhood education in fostering religio...
GENDER CULTURE AND ENTREPRENEURSHIP DEVELOPMENT IN NIGERIA
ABSTRACT
The purpose of this study was to explore the role of gender culture in shapin...
CHARACTERIZATION OF PATIENTS WITH PEPTIC ULCER DISEASE IN NIGERIA: INFLUENCE OF LIFESTYLE, WEALTH, AND ENVIRONMENTAL FACTORS
ABSTRACT
Peptic ulcer disease is a disorder in the gastrointestinal tract. It is caused by an increase in stomach acid. There are only a...
AN ASSESSMENT OF PUBLIC RELATION AS AN AID TO SUCCESSFUL GOVERNMENT BUSINESS ADMINISTRATION
BACKGROUND OF THE STUDY
The word "public relations" has already been defined by several autho...
THE INFLUENCE OF PRINCIPALS’ LEADERSHIP STYLES ON SECONDARY SCHOOL TEACHERS JOB PERFORMANCE IN SAPELE LOCAL GOVERNMENT AREA OF DELTA STATE
ABSTRACT
This study investigated the influence of principals’ leadership styles on teachers’ job performanc...
TAX ACCOUNTING CONSIDERATIONS AND ITS IMPLICATION ON REAL ESTATE INVESTMENTS
Abstract: TAX ACCOUNTING CONSIDERATIONS AND ITS IMPLICATION ON REAL ESTATE INVESTMENTS
This study examines tax accountin...
ETHICS AND UNIVERSITY ADMINISTRATION
Background of the study
According to Ogungbemi, (2015) ethics is about behavior and ways of thinking, e...
WAYS OF IMPROVING THE USE OF SCHOOL LIBRARY BY SECONDARY SCHOOL STUDENTS
ABSTRACT
This study assesses students’ use of library and ways of improving the use of library by the school&rsquo...
SPATIAL VARIABILITY OF SOIL PROPERTIES AS INFLUENCED BY PARENT MATERIALS IN THE CROSS RIVER BASIN FARM, ITU, AKWA IBOM STATE
ABSTRACT
Spatial variability of soil properties as influenced by parent materials in areas under differ...
ECONOMIC CRIMES AND NATIONAL SECURITY: CHALLENGES FOR NIGERIA
BACKGROUND
The phenomenon of crime has been in existence since time immemorial. From the time Adam disobeyed God...
