Lecture 1 Uniform Costing Notes
Lecture 1 Uniform Costing Notes
Lecture 1 Uniform Costing Notes
Faculty of Administration
Department of Management & Accounting
2011/2012 Rain Semester
MAC 206- Introduction to Costing II
Uniform Costing
Learning Objectives
After studying this topic, students should be able to:
1. understand the meaning of Uniform Costing;
2. study the utility and importance of Uniform Costing; and
3. explain the objectives behind implementation of Uniform Costing.
B. To the Workers
a. Uniform, just and fair wage structure in the industry.
b. Reduced labour turnover.
c. Higher productivity ensures higher wages and bonus.
C. Consumers
a. Cost reduction results into price reduction.
b. Fair prices.
c. Improved product and services.
d. Improved quality and assurance of after-sales services.
D. To industry
a. Reliable data and information can be supplied to the government and fair
government policies can be adopted.
b. Introducing improved methodologies and technologies can eliminate all types
of wastages.
c. Industrial activities can be planned and directed in most meaningful way.
Practice Questions