Industrial Cost Control

Broadly and generally speaking the purpose of all the enterprise is to earn money, although in India, we cannot altogether ignore the question of saving Of foreign exchange and the role of a particular, product plays in the development of our country. Earning money depends on the selling price; fundamentally, the prices are determined by the interplay of supply and demand and has to be fixed up on the result of research into the market conditions. Hence, instead of defining the prospective production as something that is being transformed from raw material to finished goods, we shall rather define it as a convertion of capital into costs and vice-versa and including of course, a profit accounted in between.