Publisher's Synopsis
Excerpt from A Method of Determining Costs in a Cotton Mill
It may be a far cry from a department store to a cotton mill, and yet there is this analogy: a cost system in a cotton mill, to be accurate, should treat each style of goods being made, exactly as a department store treats its separate departments; and there should be fastened to each distinct style its proper amount of all manufacturing expense, no matter whether this expense be for labor, raw material, or any one of the numerous other items incidental to manufacturing.
In the second place, a cost system, to be of use, must not only be accurate but must also be so devised that it will be readily adaptable to the mill in which it is to be used. A manufacturing concern would not, ordinarily, consider a comparatively small additional outlay, if by so doing it could obtain accurately the manufacturing cost of each of its different products.
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