Application Of Standard Costing Techniques With Respect To Cost Reduction And Profit Maximization Of Manufacturing Company (A Study Of Pz Plc Aba)

ABSTRACT

The research work tried to evaluate the application of standard costing techniques with respect to cost reduction and profit maximization of a manufacturing company, a study of PZ PLC Aba. Data were sourced from the organizatio, through questionnaire, oral discussion e.t.c text books, accounting journals, organizational log books were also used as back up during the research period. Population of the study was restricted to seventy (70) person; the sample size of the study/ research was made of the management staff of PZ PLC 60 persons. The statistical instrument used in this research work is chi- square. The findings in this research work are as follows: application of standard costing techniques leads to profit maximization and cost reduction, it can also lead to increase in productivity and profitability of the firm. it. is recommendable that manufacturing companies organize lectures, seminar courses e.t.c for acquaintance purpose for manufacturing firms in the use of standard. The government should make necessary decrees that will empower companies in the use of the required standards