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Cost Management

A Case Study On
Hawkins Cookers Limited

Submitted to: Submitted By:
Dr.N.K Gupta Satyabrat Kaushik
Roll No. – 193 (Sec C)

Table Of Contents

* About the Company

* Mission & Values

* Product line

* Costing Techniques

* Cost Management System(Questionnaire)
* Reporting and Evaluation (performance evaluation)
* Transfer Pricing
* Costing Techniques
* Budgeting, budgetary control

* Budgeting and Budgetary Control

About The Company
Hawkins Cookers Limited has been in business since 1959. Today, it has two offices, three factories and about 1000 persons working. It is the leader in the pressure cooker market in India and has exported its products since 1974 to various countries in each of the six continents of the world. Hawkins has sold over 45 million pressure cookers worldwide. Today, it makes 57 different models of pressure cookers in 10 different types. All Hawkins pressure cookers are listed by Underwriters Laboratories Inc., USA, a not-for-profit institution testing products for public safety. Each pressure cooker made by Hawkins features an inside fitting lid. This design is inherently safer than conventional pressure cookers. To open any Hawkins cooker, you have to first lower the lid slightly into the body of the cooker; and that cannot be done until the steam pressure inside the cooker falls to a safe level. Thus Hawkins pressure cookers are pressure-locked for safety - like a jetliner door! The Hawkins Company is well known for not compromising on quality and for continual product innovation. The most thorough research and development, the most careful selection of materials, the best manufacturing practices and the strictest quality control - all go into making pressure cookers which are trusted by the millions of families using them. Each cooker is tested to be leak-proof. Along with a superior pressure regulating system, this ensures that Hawkins cooks quickest. Each pressure cooker comes individually packed in an attractive full-colour carton. Cookbooks/Instruction Manuals come free with each pressure cooker. All Hawkins pressure cookers are guaranteed for five years Mission &Values

Hawkins ltd. has one overarching goal: to win over customers, to truly please them by delivering products and service beyond their expectations, to earn their friendship and build relationships that will endure. They offer products that are needed, well-designed, well-made and reasonably priced. They continually strive to improve our products and customer service. Pleasing customers is our livelihood and our vocation. It is the best way we have of fulfilling the expectations of shareholders, employees, vendors and other associates. Their single-minded determination to please customers drives the kind of people we employ and promote, the investments we make and the results they produce. “Pleasing customers is a matter of who we are, of being true to our roots.”

Product line
Pressure cooker
* Hawkins
* Classic Model
* Contura model
* Ekobase
* Ventura
* Stainless steal
* Big boy
* Miss Mary
* Futura stainless steel
* Stainless steel
* Pressure cooker

Futura cookware
* Tava
* Deep-Fry Pans
* Cook-n-Serve Bowls
* Saucepans
* Handis
* Sauté
* Stewpots
* Sets

Costing Techniques Followed in Hawkins:
Given below is Dummy Cost Sheet & Breakup of the cost at each stage of one their Product i.e. Satilon Frying Pan. Cost Summary
S. No.| Cost Head| Cost as on 04.12.10| Revised Cost as on 01.01.11| Remarks| 1.| Raw Material| 99.14| 124.56| Annexure 1|
2.| Components & Packaging| 33.19| 33.80| Annexure 2| 3.| Outhouse Labour| 23.50| 26.58| Annexure 3|
4.| Inhouse Labour| 15.38| 15.45| Annexure 4|
5.| Rework / Rejection| 3.67| 3.84| Annexure 5|...
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