Showing posts with label EFFECTS OF STANDARD COSTING ON THE PROFITABILITY OF MANUFACTURING COMPANIES. Show all posts
Showing posts with label EFFECTS OF STANDARD COSTING ON THE PROFITABILITY OF MANUFACTURING COMPANIES. Show all posts

Thursday, August 18, 2016

EFFECTS OF STANDARD COSTING ON THE PROFITABILITY OF MANUFACTURING COMPANIES

CHAPTER ONE
INTRODUCTION
1.1       BACKGROUND OF THE STUDY
The effect of standard of standard costing on profitability has been a problem to manufacturing companies in Nigeria. The standard costing as a tool for either improving or not improving profitability. Unlike its contemporaries in the field of science, it deals with human beings and calculation significant information.
Lucey (2012) defines standard costing as a technique which establishes pre-determined cost estimates of the cost of products and services and then compares these pre-determined costs with actual costs as they incurred. Standard cost represent am estimated or pre-determines total cost of product per unit for an organization. Adeniji (2019) argues that the process of estimating the total cost of production per unit is described as standard costing technique.