Effect Of Cost Reduction On Profitability In A Processing Industry, A Survey Of Some Selected Oil Companies In Rivers State

ABSTRACT

The study effect of cost reduction and profit measurement in a process industry, and their possible association with the prevalence of several self reported respiratory and decimal systems, and problem of process costing are appiied successfully in the manufacturing industries where firm have a continuous flow of identical product, where it i not possible to distinguish one unit from another. In literature review, instead of viewing each job as cost center, wç concentrate on areas of activities such as departments and divisions. the study population is given as: 85 which consist of the junior, senior, management staffs and cognitic.al department, statistical tools used was laro yamani tormular to cieternilne my sample size which is 70. The findings also revealed that the output oii production plant could be a I mdi product or service as an input to other production processes, having analyzed the data coliected I recommend that, the costing should recognize I he work in progress at the end of the period in arriving at the unit cost for th month, and there should he a device to ascertain the percentage so that, el fectivtiflht (dli n computed