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An Examination of the Costing Process in a Technology Centre: Lessons for Management
Beginning of article
This paper reports the results of a study of the costing procedures in a technology (or research centre) of a multinational UK company operating in the metalworking industry. Research contracts carried out within the company or in conjunction with other European engineering companies are priced at full cost, and contracts carried out for third parties are priced on a cost-plus basis. Budgets are prepared for all contracts and costs are reviewed for all contracts to ensure that they are within budget. The majority of the centre's costs are direct labour, hence satisfaction with the accuracy of research contract costs is dependent on ensuring that the labour cost of each contract is …
