Brief Introduction

Standard costing is a performance appraisal technique used by comparing actual performance against the standards for all areas of operations with the organization. This is done in discussion with various heads of organization segments. When actual performance takes place, the actual data are compared with standards; if there is a difference between actual and standards, the difference is analyzed to find the reason thereof. Deviation of actual from the standard is called ‘variance’.

Such variance may be ‘favorable’ or ‘Adverse’ for the organization Abdullahi, (2014). Controlling cost involves providing clear-cut information on what the cost should be incurred, what the cost was actually incurred, what is the variance between what was and what should have been, why, and what remedial action should be taken to ensure that the actual occurrence agrees with the planned.

Standard costing is a measure of comparison for quantitative and qualitative values. It is a normal reference point for re-evaluation of performance. It has also been variously referred to as the preparation and the use of standard cost and measurement at the points of incidence Okoye, (2013). Standard costing is concerned with measures of efficiency, which describes how managers can have control over the acquisition and use of resources in producing a given quality of output.

Table of Content

CHAPTER ONE
1.0 Introduction 1
1.1 Background to the study 2-4
1.2 Statement of the problem 4-5
1.3 Objectives of the study 5
1.4 Research questions 6
1.5 Hypothesis formulation 6
1.6 Significance of the study 7
1.7 Scope of the study 7-8
1.8 Justification of the study 8-9
1.9 Definition of relevant terminologies 9-10

CHAPTER TWO
2.0 Literature review 11
2.1 Concept of standard costing 11-16
2.2 Features of standard costing 16-29
2.3 Advantages and disadvantages of standard costing 30-33
2.4 Concept of profitability 33-35
2.5 Measurement of profit 35-38
2.6 Profit and profitability 38-39
2.7 Areas where standard costing improve profitability 40-45
2.8 Brief historical background Of Nigerian Breweries Plc 45-50

CHAPTER THREE
3.0 Research methodology 51
3.1 Introduction
3.2 Area of Study
3.3 Population of the study
3.4 Research design 51
3.5 Sample and sampling techniques 53-54
3.6 Instrumentation for Data Collection 51-52
3.7 Reliability and validity instrument 52
3.8 Data Collection Procedures
3.9 Method of data analysis 55

CHAPTER FOUR
4.0 Data presentation, analysis and Interpretation 56
4.1 Data presentation 56-66
4.2 Data Analysis and Interpretation
4.3 Testing of hypothesis 66-68

CHAPTER FIVE
5.0 Summary, conclusions and recommendation 69
5.1 Summary of findings 69
5.2 Conclusions 70
5.3 Recommendations 71
5.4 suggestion for further research studies
REFERENCES 72-73
APPENDIX 74-75