Standard cost finding practice for steel foundries

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Monograph

Identifikator:: 176071013X

URN:: urn:nbn:de:zbw-retromon-140159

Document type:: Monograph

Title:: Standard cost finding practice for steel foundries

Place of publication:: [Pittsburgh]

Publisher:: Steel Founders' Society of America

Year of publication:: 1927

Scope:: 26 Seiten

Digitisation:: 2021

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

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Document type:: Monograph

Structure type:: Chapter

Title:: Cost record. Actual or estimated

Collection:: Economics Books

It is also very necessary when establishing selling prices, to include an amount of profit in addition to that required for dividends during periods of depressed business, sufficient to provide for a consistent develop- ment of the business and for the maintenance of surplus reserves. This is a fundamental economic principle upon which the permanent success of any industry must be based. This principle is often disregarded to the detriment of the entire industry. The answers to the two following questions are related to the subject of profit derived from the manu- facture of steel castings. Do the foundry and its stockholders pay for making castings or do they get paid for the efforts and capital expended in making castings? If they get paid for making castings, is their remunera- Hon commenstrate with the skill, risks, and hazards connected with the business?

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