Target costing and its impact on product pricing and profitability Department: Accountancy By: AdeleyeJoshua Project ID: 9535 Rating: (5.0) votes: 1Rate this project12345 Price:₦5000 Get the Complete MaterialAbstractBusinesses globally now operate in a rapidly changing manufacturing and competitive environment. The study examine The study examined target costing and its impact on product pricing and profitability in a manufacturing firm in Nigeria using Dangote Cement Company as the study area. The objective of the study is to examine ways target costing can enhance product pricing and profitability of a manufacturing company in Nigeria. The methodology adopted in this study is a survey, which includes the use of primary and secondary methods. The major instrument used to gather data from primary sources is the questionnaire. From a population of one hundred and fifty (150), a sample size of one hundred and nine (109) was selected using the Taro Yamane formula. Findings revealed that Target costing is an essential strategic tool for manufacturing companies in Nigeria that aim to remain competitive in a cost-sensitive and consumer-driven market. Its market-based pricing strategy ensures that products are developed within a cost framework that allows for profitability and sustainability. The study concludes that target costing provides a disciplined framework for managing product costs, setting market-relevant prices, and protecting profit margins. In view of these findings, it was recommended that Management should organize workshops and training programs for finance, production, and marketing teams on the concept and implementation of target costing. Include target costing in management and accounting education curricula to prepare future professionals. Nigerian firms should invest in modern cost accounting software and Enterprise Resource Planning (ERP) systems to track costs in real time and analyze cost drivers. ...Preview Download Preview +Other Accountancy project topics and materials you might be interested in»The Impact of Accounting Ratio in Decision Making ( A Case Study of Nigeria Breweries Plc Enugu) »The impact of budget and budgetary control in tertiary institutions ( A Case study of imo state university )»Internal control as a tool for improving profitability»The role of financial institutions in the development of Nigeria economy»Impact of computerization of accounting system of commercial banks ( A case study of union bank plc )»The Impact of product development on banks performance ( A Case study of first bank plc )»Effects of standard costing on the profitability of manufacturing companies (a case study of nigerian breweries plc, Ama, Udi local government of Enugu state) »The role of accounting system in measuring organizational performance of transport company ( A Case study of ABC Transport )»Role of good accounting system in the management of private enterprise in Nigeria ( A Case Study of Nwaogo pam paper mills limited )»The impact of development finance institutions (DFIS) in economic development of Nigeria»Auditing in Nigeria companies, problems and prospects»Effect of misrepresentation of information in a financial statement»Effective internal control as an aid to management efficiency ( Case Study of Nigeria Bottling Company Owerri )»The effects of computerized accounting system on the performance of banking industry in Nigeria»An appraisal of fraud prevention measures in Nigerian banking sector ( Case study of access bank plc owerri )