THE PROBLEM OF COST CONTROL IN THE MANUFACTURING SECTOR

THE PROBLEM OF COST CONTROL IN THE MANUFACTURING SECTOR

ABSTRACT

The present day powerful global competition and the nature of the technological environment have led to the existence of uncertainty in demand forecast. In addition to these factors, other pressures from the associated scare resources have signaled danger for tomorrow survival while modern business is becoming more complex as a result of the complexities that surround our business world, according to Douglass (1999)

The primary source of data and secondary sources of data are used in gathering information use for this research work.

Based on the findings, it recommended that; Another ways by which cost can be controlled is by taking supplier quotation from the suppliers themselves instead of from the staffs in the organization. This is because at times prices on the quotation can be increased by the staff who collected the quotation from the suppliers but if the suppliers give it to the management price inflation will be reduce which lead to an effective cost control system in the organization.

The management can set up purchasing and logistic department which will help greatly in checking cost both internally and externally for cost reduction. The company involved i.e (Nigeria Bottling Company Plc) can established a budget monitoring and review committee. This will help to improve the poor budgetary control.

 

 

TABLE OF CONTENTS

Title

Certification

Dedication

Abstract

Table of Contents

CHAPTER ONE

  • Introduction

1.1     Background of the Study

1.2     Statement of the Problem

1.3   Objective of the Study

1.4     Research Questions

  • Statement of Research Hypothesis 5

1.6     Significance of the Study

1.7     Scope and Limitation of the Study

1.8     Definition of Terms

CHAPTER TWO

2.0     Literature Review

2.1     Definition and meaning of Cost Control

2.2     Historical Background of Nigeria Bottling

Company of Nigeria

2.3     Theoretical Framework of Cost Control Method                  

2.3.1  Cost Revenue Control

2.3.2  Financial Control

2.3.3  Investment Cost Control

2.3.4  Work Measurement

2.3.5  Operating Costing Method

2.3.6  Budget Techniques

2.3.7  Value Analysis

2.3.8  Quality Control

2.3.9  Quality Control Environment

2.3.10         Cost Reduction Scheme

2.4     Cost Control System

2.5     The Reduction Cost

2.6     Importance of Cost Control and Cost Reduction

2.7     Benefit of Cost Control

2.8     Concept of Standard Costing

2.9     Objective of Standard Costing

2.10   Costing System and Cost Control

2.11   Similarities between Budget Cost and Standard Costs

2.12         Difference between Budget Cost and Standard

2.13   Steps in Cost Control System

CHAPTER THREE

3.0     Research Methodology

3.1     Sources of Data Collection

3.2     Area of Study

3.3     Population of the Study

3.4     Sampling Procedure

3.5     Data Analysis Techniques

3.6     Assumptions

CHAPTER FOUR

4.0     Data Analysis and Presentation

4.1     Data Presentation

  • Data Analysis

4.2.1  Contingency Table Analysis

4.3     Discussion of Results


CHAPTER FIVE

5.0       Summary, Conclusion and Recommendation

5.1       Summary of Findings

5.2       Conclusion

5.3       Recommendations

References

Questionnaire

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