TABLE OF CONTENT
TITLE PAGE i
CERTIFICATION ii
DEDICATION iii
ACKNOWLEDGEMENT iv
TABLE OF CONTENTS vi
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND TO THE STUDY 1
1.2 STATEMENT OF THE RESEARCH PROBLEMS 3
1.3 OBJECTIVES OF THE STUDY 4
1.4 SIGNIFICANCE OF THE STUDY 5
1.5 RESEARCH QUESTIONS 6
1.6 SCOPE OF THE STUDY 7
1.7 LIMITATION OF THE STUDY 8
1.8 PLAN AND ORGANIZATION OF THE STUDY 9
1.9 DEFINITION OF KEY TERMS 10
CHAPTER TWO
LITERATURE REVIEW
2.1 INTRODUTION 12
2.2 PRODUCT COSTING 13
2.3 FLOW OF COST 17
2.4 PRICING DECISION 18
2.5 COST PLUS PRICING SYSTEM 20
2.6 OBJECTIVE OF PICING POLICY 28
2.7 PRICE CONROL AND RATIONING 34
2.8 GENERAL PRICING PROBLEM 35
CHAPTER THREE
RESEARCH METHODOLOGY
3.1 HISTORICAL BACKGROUND OF P.Z LTD 37
3.2 METHOD OF DATA COLLECTION 38
3.3 POPULATION AND SAMPLE SIZE 39
3.4 SAMPLING TECHNIQUES 39
3.5 METHOD OF DATA ANALYIS 39
3.6 METHOD OF DATA COLLECTION 40
3.7 INDUSTRY MANUFACTURING 40
CHAPTER FOUR
DATA PRESENTATION AND ANALYSIS
4.1 DISCUSSION OF ANALYSIS 42
4.2 DISCUSSION OF FINDINGS 49
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATIONS
5.1 SUMMARY 62
5.2 CONCLUSION 65
5.3 RECOMMENDATION 66
BIBLIOGRAPHY 69
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND TO THE STUDY
The economy which was one agriculture oriented is now largely into manufacturing our metaphosing into a more dynamic and diversified one. In essence, since the manufacturing industry is concerned with the production of finish goods, their absence is no exception as catalyst for the fast transformation of the country’s economy to manufacturing economy should be encourage for the tremendous contribution to the growth I can be give to the country. The growth of the costing started during the industries revolution in 1780AD and this was applied on the manufacturing activities of the small scale and medium scale business managed by individual shortly after, there was the need for the manufacturing industry to know their cost analysis involved in producing a particular goods or services to achieve the price at which the industry (manufacturing will sell it out to the consumer, thereby applying the costing principle necessary).
“Probably no single marketing tool is so critical from both economy and social stand point as price. Yet, as important as it is less is probably know about any other single market tool”.
(Buskirle 2001). Therefore should be a proper and effective method at arriving at actual expense should be a proper and effective method at arriving at actual expense (Direct Material Cost, Direct labour cost, overhead expenses and others indirect cost) on a production produced in an industry. The industry is bound to collapse, or continue to be run ineffectively if proper costing method is not that in place.
