Evaluation Of Standard Costing Technique With Respect To Material Costing And Corporate Performance In An Organization:- Ike Confidence C
ABSTRACT
This
research aimed at three broad objectives thus, to establish a framework that
would guide accountants and managers in the application of standard costing
technique to determine how far standard costing principles advocated are used
in production by manufacturing firms to enhance corporate profitability and to
examine how the technique may be use as an integral part of business
administration philosophy. The method of research adopted was non probability
samplings design using random sample. It used majority chi-squared technique as
a statistical technique for the test of hypotheses. The sample size was 40 in
all. The finding as established include that standard costing technique is used
to foster management effectiveness and hence corporate profits, use in the
areas of performance evaluation, cost control, inventory control and provides
motivation, encouragement and ensure efficiency. It also reduces inefficiency
in activities. This research offers some recommendations that motivation should
be provided, a clear plan should be drawn and measures taken for correction of
variations. Cost accountant should have competent supervision and full
interaction with factory worker and that current and attainable standards
should be used in firms. Also that managers should correlate technical
specifications and scientific measured for materials and labour and routine
checking of plant and machine ensured to prevent break down and idle machine
hours.
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-- (2024). Evaluation Of Standard Costing Technique With Respect To Material Costing And Corporate Performance In An Organization:- Ike Confidence C. Repository.mouau.edu.ng: Retrieved Dec 31, 2024, from https://repository.mouau.edu.ng/work/view/evaluation-of-standard-costing-technique-with-respect-to-material-costing-and-corporate-performance-in-an-organization-ike-confidence-c-7-2
--. "Evaluation Of Standard Costing Technique With Respect To Material Costing And Corporate Performance In An Organization:- Ike Confidence C" Repository.mouau.edu.ng. Repository.mouau.edu.ng, 30 Aug. 2024, https://repository.mouau.edu.ng/work/view/evaluation-of-standard-costing-technique-with-respect-to-material-costing-and-corporate-performance-in-an-organization-ike-confidence-c-7-2. Accessed 31 Dec. 2024.
--. "Evaluation Of Standard Costing Technique With Respect To Material Costing And Corporate Performance In An Organization:- Ike Confidence C". Repository.mouau.edu.ng, Repository.mouau.edu.ng, 30 Aug. 2024. Web. 31 Dec. 2024. < https://repository.mouau.edu.ng/work/view/evaluation-of-standard-costing-technique-with-respect-to-material-costing-and-corporate-performance-in-an-organization-ike-confidence-c-7-2 >.
--. "Evaluation Of Standard Costing Technique With Respect To Material Costing And Corporate Performance In An Organization:- Ike Confidence C" Repository.mouau.edu.ng (2024). Accessed 31 Dec. 2024. https://repository.mouau.edu.ng/work/view/evaluation-of-standard-costing-technique-with-respect-to-material-costing-and-corporate-performance-in-an-organization-ike-confidence-c-7-2