Our Archives

Call 09159097300, or 09067754232 for any enquiries.

Project Topic:

COST ACCOUNTING INFORMATION AND PRICE DETERMINATION (A FOCUS ON LIFE BREWERIES LIMITED

Project Information:

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 50 ::   Attributes: Data Analysis, abstract ::   2,720 people found this useful

Project Body:

ABSTRACT

The need for cost accounting came with increased industrialization, engineering an expansion in manufacturing.  It is therefore obvious that in efficient system of costing is essential for industrial control.  The topic, “Cost Accounting Information and Price Determination” Is teaching about cost accounting when adequately treated and its uses to the management of the organization in its planning and decisions.  And here, we are trying to apply cost information which is efficiently determined to pricing policy decision. There is not yet an agreed best method of costing products though it may be helpful to recognize that cost allocation are being used to obtain a mutually acceptable price and not necessary to portray caused and effect relationship of cost incurrence.   But price determination from cost under efficient operation through efficient cost system will most probably approximate the price of the product to its value.

 

TABLE OF CONTENTS

CHAPTER 1

Introduction

Statement of problem

Purpose of study

Significance of limitation of study

Scope and limitation of study

Definition of terms

CHAPTER 2

Literature Review

Cost determination

Cost Control

Fixed and variable cost

Natural and functional classification cost

Other theoretical work on cost and pricing

Price flexibility

The Nature of Pricing problem

Limitation of cost oriented price

Cost bread pricing theories

Price to achieve corporate objectives

CHAPTER 3

 Methodology

CHAPTER 4

CHAPTER 5

Summary of Study

Discussion of findings

Conclusion

Recommendation

Bibliography

 

CHAPTER ONE

INTRODUCTION

 

Background of the Study

There are no more important decision in market affairs than those connected with pricing.

No matter how intelligently the product, distribution and communication mixes are conceived, improper pricing of a production one of the reason is that price decision cut across all areas of business operation say “Fred Foy” (1980:P143).

This research therefore, among other things intends to highlight an management seemingly indifference towards this all important issues.  Through the cost structure especially as it effects a manufacturing industry constitutes the major determinant of the price product of firms which vary with circumstances, types of the commodity services rendered.

Before delving into some of these other factors that influence product price, let us look at some of these factors at play in the cost and of beer, component of the cost structure also include:

a.           Historical Accounts:  Since actual figures of cost and revenue obtained from previous periods in a steady economic activities affects management can use information from it to determine the price of a product.

b.           Budgeted Costs: Management often base its policy on the information system through which cost can be estimated, usually applied in a newly established firms.

c.           Market Forces: Demand and supply; the price of beer is affect by factor in the market because it cannot be rigid in its pricing, since it is a price taker, so with high demand the price of beer increase and the reverse is the case.

d.           Capacity of the Factor: This refers to the quantity of the product that can be produced in a run.  The factory with large size will produce and sell it in lesser price than a small sized ore. For example, Life Breweries has a capacity of about 500 hectoliters of a 6million cartoons per year while premier has a capacity of 1200 hectoliters.  Under normal circumstance, premier should be cheeper.

e.           Raw Materials: Beer Brewing requires three major raw material viz.  Malt, Maize and Hop (Malt Extract).  Malt constitutes the major cost of beer, and Malt and hop are being imported.  When price of all those materials increases the price of beer increase and visa versa.  Example when the price of Malt was N20,000.00 per tone, a carton of beer sales for N600.00 each but now it has gone to N35,000.00 and I sale for N1000.00per carton.  Other factor includes efficiency, economic trends.

Statement of Problem:

The study is geared towards the solution of the problem encountered by management in pricing and marketing their products due to inadequate or misleading accounting information.  Instances are where management had unknowingly continued selling products below out of pocket cost.  This researcher intends to provide several cases and simulations and through proper analysis of these, management would have learnt the best method  of analyzing its costs to obtain adequate information necessary for pricing policy.

Purpose of Study

The project will attempt to:

a.           X-ray the element of cost involves in the brewing of beer and the extent to which the cost of price of beer is being influence by the actual cost of production.

b.           Through the ideal of the actual cost figures involves in the price of beer, other factors at play in the determination of the price of beer will be known.

c.           To determine an appropriate condition and environment for proper collection and analysis of cost.

Significance of the Study

The essence of cost accounting information came to mind when one realizes that in the modern world of industrization that no firm can survive without properly costing its products.

        And any firm that does not know its information as regards costs, stands the chance of pricing itself out of the market.  The greatest weapon, which a firm can use against its opponents to maximize efficiency is proper costing.  Ever if price ceiling exists, the firm will still in  a position to maximize its profits that is, reduction in cost without equivalent reduction in price leads to increase profit.

        The more costs are minimized based on information gained, the higher the profit will be and this is a position increase in government tax hence dissuade the use of the ‘market watch department” as the pricing guide to some manufacturing industries especially the beer industry in which m case study is not exempted.


Get The Complete Project »

Project Department:

MORE BANKING AND FINANCE FREE UNDERGRADUATE PROJECT TOPICS AND RESEARCH MATERIALS

Instantly Share this Project On Social Media:

CLOSELY RELATED BANKING AND FINANCE FREE UNDERGRADUATE PROJECT TOPICS AND RESEARCH MATERIALS

A CRITICAL ANALYSIS ON THE USE OF FINANCIAL STATEMENTS IN ASSESSING THE PERFORMANCE OF AN ORGANIZATION (A CASE STUDY OF FIRST BANK NIGERIA)

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 72 ::   Attributes: Questionnaire, Data Analysis  ::   6711 engagements

ABSTRACT This project work is carried out to examine the contribution of micro finance banks to the development of Small and medium scale enterprises in Nigeria. The Brass micro finance bank is used a...Continue reading »

A STUDY ON THE ACCEPTANCE AND ADOPTION OF THE CBN CASHLES POLICY IN PORT HARCOURT, NIGERIA

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 76 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   5118 engagements

CHAPTER ONE INTRODUCTION 1.1. BACKGROUND TO THE STUDY One of the prerequisites for the development of national economy according to Ajayi et al, 2006 is by encouraging a payment system that is secu...Continue reading »

A STUDY ON THE IMPACT OF BUDGETARY CONTROLS ON THE PERFORMANCE OF AN ORGANIZATION (A CASE STUDY OF FIDELITY BANK PLC)

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 80 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   5474 engagements

CHAPTER ONE INTRODUCTION 1.1. BACKGROUND OF THE STUDY AND PROFILE OF THE ORGANIZATION Following the uncertainties prevailing in the Nigerian business environment today, managers and stakeholders mu...Continue reading »

ANALYZING PERFORMANCE APPRAISAL TECHNIQUES IN UNION BANK NIG PLC

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 67 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   14523 engagements

CHAPTER ONE INTRODUCTION 1.1. BACKGROUND OF THE STUDY In any evaluation of the condition necessary for the growth and survival of an organization, the role of performance appraisal is a strategic f...Continue reading »

AUDIT INDEPENDENCE: ENHANCING ACCOUNTABILITY AND TRANSPARENCY IN CORPORATE ORGANIZATIONS

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 71 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   4654 engagements

CHAPTER ONE INTRODUCTION 1.1. Background of the study The subject of transparency and accountability in modern day corporate organizations has continued to receive attention as never before. It has b...Continue reading »

CREDIT MANAGEMENT AND ISSUES OF BAD DEBTS IN COMMERCIAL BANKS IN NIGERIA

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 68 ::   Attributes: Questionnaire, Data Analysis,Abstract

The article on this topic (credit management and issues of bad debts in commercial banks in Nigeria) is an extract from literature review of the project material. The complete project work would be ma...Continue reading »

What are you looking for today?

TESTIMONIALS:

  • 1. Jayone from FPA said " I had a wonderful experience using UniProjectMaterials,though they did not deliver the material on time, but the content had good quality. I recommend UniProjectMaterials for any project research work.".
    Rating: Very Good
  • 2. Mugisha R from B.U, UGANDA said "Wow, this is great, your materials has helped me alot. Many blessings. I will inform my friends. Thanks. ".
    Rating: Very Good
  • 3. Nwachukwu Ruth Chinyerr from Michael okpara university of Agriculture,umudike said "I really appreciate this. Materials like this are good guides to writing a researchable project.".
    Rating: Good
  • 4. Ibrahim Salama from Kaduna said "Thanks You So Much Sir We Appreciate ".
    Rating: Excellent
  • 5. Ibrahim Salama from Kaduna said "Thanks You So Much Sir We Appreciate ".
    Rating: Excellent
  • 6. Mohammed A.B from Veterinary Laboratory, Zanzibar ,Tanzania said "You are doing good job to assists in research. God bless you.".
    Rating: Very Good

Paper Information

Format:ms word
Chapter:1-5
Pages:50
Attribute:Data Analysis, abstract
Price:₦3,000
Get The Complete Project »

Best Selling Projects

Our Archives