Use Of Standard Costing Technique. As An Effective Control Tool In A Manufacturing Company (A Study Of Nigerian Breweries Plc Aba Plant).

OGUNKA ERIC ENYINNA | 78 pages (12125 words) | Projects

ABSTRACT

A study investigating the efficiency of using standard costing techniques as a control tool in a manufacturing company using Nigerian Breweries PLC Aba as a case study. This research focused on how standard costing technique operates in a manufacturing company, the impact of adopting standard costing technique on the prices of manufacturing company's product and finally the effectiveness of this control tool in determining the cost of product in the above mentioned company. In order to make recommendations aimed at solving the problem resulting from the use of this technique, sampling was used to select 52 staff interviewed and 28 respondents out of the 75 employees of the company. Data collection was done using a well structured questionnaire, data collected was analyzed using simple percentages, were this was difficult, it was described, and finally Null Hypothesis was used to test the result. From the result gathered, it was found out that Nigerian Breweries PLC Aba uses standard costing techniques as an effective control tool and they also use the technique to increase profitability and stabilize the prices of their product. The result also revealed that the management of the above mentioned company is quiet satisfied with the current level of product profitability but would not mind if it can be improved upon. It is believed that the continual implementation of standard costing technique will assist in gathering more accurate cost data that will help to improve the company's profitability and take it to greater height in relation to its competitors. Therefore to enhance the effectiveness of this technique it is recommended that it must be carefully revised. This will help to predict and evaluate the efficiency of a particular department.

Overall Rating

0.0

5 Star
(0)
4 Star
(0)
3 Star
(0)
2 Star
(0)
1 Star
(0)
APA

OGUNKA, E (2021). Use Of Standard Costing Technique. As An Effective Control Tool In A Manufacturing Company (A Study Of Nigerian Breweries Plc Aba Plant).. Mouau.afribary.org: Retrieved Nov 01, 2024, from https://repository.mouau.edu.ng/work/view/use-of-standard-costing-technique-as-an-effective-control-tool-in-a-manufacturing-company-a-study-of-nigerian-breweries-plc-aba-plant-7-2

MLA 8th

ENYINNA, OGUNKA. "Use Of Standard Costing Technique. As An Effective Control Tool In A Manufacturing Company (A Study Of Nigerian Breweries Plc Aba Plant)." Mouau.afribary.org. Mouau.afribary.org, 24 Jun. 2021, https://repository.mouau.edu.ng/work/view/use-of-standard-costing-technique-as-an-effective-control-tool-in-a-manufacturing-company-a-study-of-nigerian-breweries-plc-aba-plant-7-2. Accessed 01 Nov. 2024.

MLA7

ENYINNA, OGUNKA. "Use Of Standard Costing Technique. As An Effective Control Tool In A Manufacturing Company (A Study Of Nigerian Breweries Plc Aba Plant).". Mouau.afribary.org, Mouau.afribary.org, 24 Jun. 2021. Web. 01 Nov. 2024. < https://repository.mouau.edu.ng/work/view/use-of-standard-costing-technique-as-an-effective-control-tool-in-a-manufacturing-company-a-study-of-nigerian-breweries-plc-aba-plant-7-2 >.

Chicago

ENYINNA, OGUNKA. "Use Of Standard Costing Technique. As An Effective Control Tool In A Manufacturing Company (A Study Of Nigerian Breweries Plc Aba Plant)." Mouau.afribary.org (2021). Accessed 01 Nov. 2024. https://repository.mouau.edu.ng/work/view/use-of-standard-costing-technique-as-an-effective-control-tool-in-a-manufacturing-company-a-study-of-nigerian-breweries-plc-aba-plant-7-2

Related Works
Please wait...