Abstract:
This study aims at examining the role which costing plays in
materials management and control with a view to projecting the end of
cost department in every industrial organization .
In order to highlight the foregoing objective, the survey method of
research was employed in the study. Both primary ad secondary
sources of data were utilized in gathering relevant information. The
primary sources consists of the questionnaire and oral interview while
the secondary sources were gathered from existing literature on the
subject matter of the study.
Tabular presentation of data analysis was used whereby the
effect and relationship one data has with another was quantified by
simple percentage representation. The study has proved that costing is
a veritable instrument for materials control in any industrial organization.
Given the importance of effective materials management in any
industry, this study recommends the recognition of cost departments in
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such organizations, and of course the creation of good working
environment to enable the department function effectively.
Finally, the study made a case foe the development of the study
of costing beyond the existing level in all our tertiary institutions. Pursuant to this recombination, industrial operators should liaise
with government to ensure that the curriculum of various institutions are
developed to incorporate the increase importance of costing and at the
same time see to the adequate functioning of the programme.
Cost information provides management with relevant sources for
planning and controlling the affairs of an organization. In manufacturing
companies cost information provides vital data for making operational
and strategic decisions that contribute to overall corporate development.
