Cost management practices of manufacturing establishments in Angono, Rizal calendar year 2015 Karla Genia A. Antazo, Romar M. Geraldino, John Cesar B. Punelas, Rolando M. Santos Jr

Thesis BSBA-FM University of Rizal System, Binangonan 2017

includes bibliographical references

This study primary aimed to determine the respondents cost management practices of manufacturing establishments in Angono, Rizal for Year 2015 in terms of operating, sales and administrative expenses. The researchers used descriptive method which is the most appropriate method. They provided questionnaire checklist, it involved collection in order to answer questions concerning the current status of the subject of the study and the prevailing condition of manufacturing establishments. The respondents involved the manager or supervisor and workers of each manufacturing company concerned. To determine the profile of the respondents and its business; the frequency and rank distribution was needed. To determine the cost management practices of manufacturing establishment, the computed weighted mean was used. To determine the significant difference on the perception of the respondents on the cost management practices of manufacturing establishment, they are grouped according to personal profile and business profile, variance was used. Among the 52 businesses, 40 companies or 77 percent agreed to be the subject of the study. The other 12 companies that were not included to be the subject of the study were already closed and for some reason, the other companies refused to give a chance to be a part of the study. With respect to the respondents' in businesses' profile, managers and operation management staffs are organized as single manage firm or sole proprietorship. Most of the firms are 8 Years and above in service, with sufficient initial and present capital, with regards to sources of capital most of the firm's capital came from their own pocket, and when it comes to manufacturing company/type most of them are food and furniture in nature, in monthly income most of the firms gaining P30, 000 per month of the business and in the number of employees most of the firms have 19-25 employees in daily operations. Based on the respondents' perception on the cost management practices of manufacturing establishments in terms of operating expenses, manufacturing establishments always applies different strategies to manage their cost because there were so many expenses made in the operation than the other variables. In sales expenses manufacturing establishments often used different kinds of strategies to manage their cost to minimize their expenses and maximize the popularity of their products; and lastly in terms of administrative expenses, manufacturing establishments is also using administrative management of cost in an often basis because some of the manufacturing establishments didn't want to avail different kinds of gadgets for protection to lessen the expenses but some wants different kinds of gadgets even though it adds up to their expenses for their protection from theft. Based on the summary and findings, the researchers drew following conclusions: With respect to the respondents' profile, most of them are in the middle age, female, married, and college graduate, long-term employment, and in terms of length of service most of the respondents have below 8 Years on the job. From the tested hypothesis, data revealed that there was no significant difference on the cost management practices in terms of age, sex, civil status, educational attainment, also there is no significant difference on cost management practices in terms of form of organization, Years of existence, sources of capital, initial capital, present capital and number of employees. The researchers had drawn their recommendation that every owner of the Manufacturing Establishments should have more security gadgets on their facilities for safety of the eployees also the different machines on the company. Also, Manufacturing Establishment should set a specific deadline for turning over inventory that significantly declines in quality, provide an organized warehouse and consider the target market or markets of the products. Lastly, future researchers must use other cost management practices variables for more comprehensive significance.