ABSTRACT
This research work is based on the production cost control in
manufacturing organization.
The study was motivated on how to control cost in manufacturing
industries in order to achieve the purpose of which the industry is establish.
To solve the research problem the researchers made use of only secondary
source of data, since the guidelines for writing the ND research work in
banking and finance was restricted to secondary source of data.
The research instrument used to collecting the data were textbook,
journal, magazine, newspaper. Etc.
Also, based on data collection form secondary soruce, it is quite obvious
that I have found out that for production cost control to fully and well
carried out, there should be combination of man and material resources in
efficient manner. Also, that the need
for cost control is very important in the sense that it increase profitability
of manufacturing firm.
Finally, I discover that may organization neglect the issue of internal
control system in cost control and thereby call attention for immediate
implementation of this in our manufacturing industry.
TABLE OF CONTENT
Title page ii
Approval page iii
Dedication iv
Acknowledgement v
Abstract vi
Table of
content viii
CHAPTER ONE
Introduction 1
1.1
Background of study 1
1.2
Statement of the problem 3
1.3
Purpose/objective of the study 3
1.4
Significance of the study 4
1.5
Limitation of the study 4
CHAPTER
TWO
Review of Related literature 5
CHAPTER
THREE
Research Design and methodology 20
3.1
Sources of Data (secondary sources only) 20
3.2
Location of data 20
3.3
Method of data collection 21
CHAPTER FOUR
Findings 22
CHAPTER FIVE
Conclusion
and recommendation. 24
Bibliography 28
CHAPTER ONE
1.0
INTRODUCTION
1.1 BACKGROUND
OF STUDY
The main aim of this research work is an attempt to verify the
indiscriminate increase in the prices of commodities produced in this part of
the country by manufacturing organization and companies. This continuous rise in prices has attracted
the attention of many citizens, mostly those who have ignorant of the adverse
effect of this continuous rise in the prices on the citizen and the country
economy.
This research paper will therefore aim at giving a comprehensive account
of the control of cost in the production field with emphasis on the
manufacturing organization. The
attribute of every organization is the pursuit of a goal and this goal exists
in different forms. It is evident,
therefore that every manufacturing organization be it sloe, partnership,
corporation, among others have an objective and this primary objective is
profit maximization other objective such as social is purely secondary and
solely depend on the profit.
Profit is the surplus or excess of to all income over total cost during a
specific period of time. It therefore
follows that before any organization can make profit, they must exercise
control over their production and services.
There are other one still under production and the best ingredients are
used for production in PRODA. Administration and Staffing. Although the government Board has
responsibility for general management as set out in the natural science and
Technology, Act 1980, the day to day running of the institute is the function
of the direct or research.
Administration, the institute is organized into divisions science,
Engineering, ceramics and administration.
The activate division form the point of view of research and development
functions are science, Engineering and
ceramics.
In order, both their research and development work and their production
work be given equally emphasis each of these activities division is in turn
organized into research units.
1.2
STATEMENT OF THE PROBLEM
Many organizations operating in our country today try every effort to
make use of they break even in order to make profit, still al these efforts
seems t be worthless. They reduce their
cost in order to maximize as suppose to be, why do so many organization still
not breakeven, not to talk of making profit after all their efforts to control
cost?
Does it mean that their cost control is not effective? The researcher will give answer to these
questions in his subsequent chapters.
1.3 PURPOSE/OBJECTIVE OF THE STUDY
Some of the objectives of this research work is
i. To assess the various production cost
control techniques and effectiveness as well s the efficiency.
ii. To know some of importance
and need for cost control.
iii. To know cost control and reduction
Technique in manufacturing originations.
Iv To know the use of budgetary control system
manufacturing organization.
V To know the use of budgetary
control system in cost control
1.4 SIGNIFICANCE OF THE STUDY
This research work as carried out by the research on production cost
control in manufacturing organization will be of great important to so many
manufacturing firms in the area of cost control in order to maximize
profit. Also individuals who are
interested in entering into the business manufacturing will equal benefit from
this project.
1.5 LIMITATION OF THE STUDY
The following limitations were faced by the researcher and limit efforts
in elaborating the researcher work.
Finance: The researcher is a student with no souce of
income and has been discouraged from traveling to all the labour market in Nigeria
to collect dta for this study. She ahs
therefore chosen Enugu
metropolis because of proximity and ease of contract to the workers.
Time: This project work has just one semester time
limit. It would have been desirable for
a longer time to complete the topic and extend the coverage but it was not
possible.
Pressure from Academic
Work: The student was jam-packed with
other academic activities and at the same time writing this research work and
this brought little difficult in finishing this research work on time.
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