Variance Analysis As A Tool For Management Control In Manufacturing Firm (A Case Study Of Seven-Up Bottling Company Limited, Aba):- Iroegbu, Iheanyichi U
ABSTRACT
Variance analysis as a tool for management control in manufacturing firm,
a study of Seven-up bottling company limited. Ogbor-Hill Aba had the following
problems of setting standards, non application and sometimes inefficient
application of variance analysis which led to the following posited objectives.
Evaluate where necessary' the budgetary process as well as standard costing in
operation at SevenUp bottling company. To investigate whether the concept o'
variance analysis is in use and how it has aided management decision margins in
that firm. Research design used was survey research method which uses
questionnaires as major source of primary data. The population of One Hundred
an d Fifty seven (157) and he sample size of One Hundred and Thirteen (113) as
determined using the Taro Vamane formula; the formulated hypotheses were tested
using Chi-square. The researcher discovered that there is relationship between
variance analysis and cost reduction in manufacturing organizations. Variance
analysis docs not lead to efficient management control of resources. It makes
for ea<y comparison, easy
evolution of work in progress
and makes possible the highlighting of variances. Recommended solutions were
introduction of training program for top managers and supervisors in the use of
control instruments employed in the firm. A more flexible approach to setting
of standard should be put in place to guide against fluctuations in prices of
goods and services among others.
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1ROEGBU, 1 (2024). Variance Analysis As A Tool For Management Control In Manufacturing Firm (A Case Study Of Seven-Up Bottling Company Limited, Aba):- Iroegbu, Iheanyichi U. Repository.mouau.edu.ng: Retrieved Nov 24, 2024, from https://repository.mouau.edu.ng/work/view/variance-analysis-as-a-tool-for-management-control-in-manufacturing-firm-a-case-study-of-seven-up-bottling-company-limited-aba-iroegbu-iheanyichi-u-7-2
1ROEGBU, 1ROEGBU. "Variance Analysis As A Tool For Management Control In Manufacturing Firm (A Case Study Of Seven-Up Bottling Company Limited, Aba):- Iroegbu, Iheanyichi U" Repository.mouau.edu.ng. Repository.mouau.edu.ng, 22 Aug. 2024, https://repository.mouau.edu.ng/work/view/variance-analysis-as-a-tool-for-management-control-in-manufacturing-firm-a-case-study-of-seven-up-bottling-company-limited-aba-iroegbu-iheanyichi-u-7-2. Accessed 24 Nov. 2024.
1ROEGBU, 1ROEGBU. "Variance Analysis As A Tool For Management Control In Manufacturing Firm (A Case Study Of Seven-Up Bottling Company Limited, Aba):- Iroegbu, Iheanyichi U". Repository.mouau.edu.ng, Repository.mouau.edu.ng, 22 Aug. 2024. Web. 24 Nov. 2024. < https://repository.mouau.edu.ng/work/view/variance-analysis-as-a-tool-for-management-control-in-manufacturing-firm-a-case-study-of-seven-up-bottling-company-limited-aba-iroegbu-iheanyichi-u-7-2 >.
1ROEGBU, 1ROEGBU. "Variance Analysis As A Tool For Management Control In Manufacturing Firm (A Case Study Of Seven-Up Bottling Company Limited, Aba):- Iroegbu, Iheanyichi U" Repository.mouau.edu.ng (2024). Accessed 24 Nov. 2024. https://repository.mouau.edu.ng/work/view/variance-analysis-as-a-tool-for-management-control-in-manufacturing-firm-a-case-study-of-seven-up-bottling-company-limited-aba-iroegbu-iheanyichi-u-7-2