ABSTRACT
The research is focused on the role of cost
accounting in controlling manufacturing costs. The main objective of this study
is to know the extent to which cost of manufacturing a product can be
controlled using cost accounting controls and techniques. Data were collected
for the study using questionnaire. The data collected were analysed, tabulated
and presented using averages and simple percentages. The hypothesis were tested
using normal distribution statistical tool at α = 0.05 significant level
and population, n = 120 staffs/workers of the organization. The sample size n =
30, was determined by stratified random sampling from the above stated
population. Chi-square (x 2) value
were calculated and the results compared with the critical value x 2, accepting the hypothesis if calculated x 2 is higher than or equal to critical value x 2 and vice versa. The major findings of this study
include: that cost accounting techniques adopted by organization are relevant
to pricing decision/policy, that cost record and information are needed for
price determination; and cost minimization and production efficiency are
determined by proper accounting and controls. On recommendation: organization
should make the best use of accounting techniques, that organization should
ensure that the application of cost accounting techniques are extensively
utilized in their costing decision; and lastly, firms should acknowledge the
role of cost accountant in fixing price and making sure that costing
information are effectively utilized.
No comments:
Post a Comment