Report on Cost accounting

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On our Industrial Report Regency Garments LTD.

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Transcript of Report on Cost accounting

  • 1. On our Industrial ReportRegency Garments LTD.

2. ADDRESS REGENCY GARMENTS LTD.CEPZ Industrial Area, Chittagong,Bangladesh.Unit: - 04; Road No: - 04; Plot: - 7-9. 3. Afsar Ahmed 120104117Shaibal Barua 120104102Mohammad Faruque 120104098Murad Hasan 120104152Utchas Dhar 120104133Robiul Hossain 120104136Sharmin Akter 120104095Sultan Azad 120104125Erfanul Islam 120104134Juwel Shill 120104149 4. 1. About Regency Garments LimitedIt is a largest garments manufacturing industry.This companys total products is Woven Tops &Bottoms, Gabardine & Jeans pants, and Shirts.This companies (unit: - 04) products isGabardine & Jeans pants. 5. Ownership:-A joint venture between Hirdaramani Group of Companies(Sri-Lanka) and LT Apparel (USA).Established:-1984 in CEPZ, Chittagong.Units Units No. EstablishedRegency Garments LTD. 01 1984Do 02 1992Do 03 2003Regency Three LTD. 04 2006Do 05 2008Regency Garments LTD. 06 2012 6. Generally it exports its entire product to Sri-Lanka &USA where the retailers like wall-mart, k-mart buy theirproducts for the purpose of reselling. As the GM of thecompany was telling us that they are successful becausethey fulfill the demand of their laborer, by giving themcanteen, child-care, day-care & emergency medicalfacilities. 7. Current Scenario Of Regency Garments LTD.The ready-made garments (RMG) industry occupies aunique position in the Bangladesh economy. It is thelargest exporting industry in Bangladesh, whichexperienced phenomenal growth during the last 30 years. 8. 2. RG LTD. in a Short:-The main data of RG LTD. is enlisted below. Some of ourdata may be incorrect as we sorted them from productionmanager, store keeper, and GM merchandising.There might be a bit of inflexion in given data:-1. Garment Units 06 units.2. Location CEPZ Industrial Area. Chittagong,Bangladesh.3. No of workers 10,000.4. No of staff 140.5. No of machines 4500.6. Production line 98. 9. 7. Production per month 13, 00,000 pieces. & per year 1,56, 00,000 dozen.8. Have day care facility.9. Have emergency medical facility.10. Product development facility.11. Fire extinguishers - ABC-26pc, CO2-30pc.12. Fire alarms - 12 alarms.13. Face mask - 20,000 pieces.14. Emergency lights - 80 lights15. Smoke detector - All floors.16. Exhaust fan - 130 fans. 10. 3. Management Team:-The Total management team whosehard work keeps the garments alive,we have met the whole managementteam. They have explained theirwork mechanism to us. The totalproduction team is enlisted with ahelp of a diagram:- 11. Regency Garments ltd.ChairmenManaging DirectorDirector(HR) Accounts Director(production)GM(HR)HR ManagerExecutiveGm(production)PM(production)Floor in chargeSupervisor 12. 4. Maintenance system of the RG LTD:-Maintenance system is responsible to ensure theproper function of the machine & its parts. They dothe following work:- To store machine parts. To supply tools and equipments. 13. Above systems are important to maintaingood production efficiency. If any of thesystem becomes failed to maintain the properwork then the production will be hampered.So management, who is responsible for theproduction should ensure the proper work ofeach system of Regency Garments LTD. 14. 5. Main Fabrics Used:-100% cotton, Specially finished likewrinkle resistance, Easy care finish forGabardine & Jeans pants. 15. MaterialsDirect Materials Indirect MaterialsFabric AccessYarn HangerCotton Swatch 16. MachineriesDrying Machine.Print Machine.Swing Machine.Single needle.Over lock. 17. Production Buyers:-The main buyer of the garment is wall-mart.But they also sell their products tok-mart, Sainsburys, Geoffrey Berne etc. 18. 6. Function of different section of RG LTD:-The functions of different section of RegencyGarments Ltd. are given below; they are:-i. Sample section.ii. Store section.iii. Cutting section.iv. Sewing section.v. Finishing section.vi. Go-down section.vii. Shipment section. 19. Sample section: Sample section isthe first section of Regency Garments Ltd:- To make the correct sample is the firstfunction of sample section. To perform pattern grading. 20. Store section: Store is essentialto preserve the raw materials & thefinal finis goods. Its important tomaintain correct information about thecurrent stored materials:- Materials receiving. Issue to production unit. 21. Cutting section: Cutting section is thethird section after sample section. Herecutting operation is done by the cutter. Here,following work is done:- Fabric spreading on the cutting table orfloor. Marker making according to the pattern. To cut fabric according to the marker. 22. Sewing section: In thesewing section, cut pieces offabric are assembled by sewingoperation. 23. Finishing section: After sewing, fabric issend to the finishing section. Different types ofornamenting work are done here:- Ironing, Folding, Packing &Arranging. Final inspection done by thequality control officer. Afterquality inspection; it is decidedthat the fabric is ok or is itreject. 24. Go-down section: Storing Finished Goods.Shipment section: After finishing allformalities ensure the buyer by fax or e-mail.Ready for exporting the garments. 25. 7. A Complete Production Development Process:-A Complete Production Development Process is givenbelow; they are:- Orders receive by merchandising team. Production design. Sample design. Price Negotiation. Factory assessment - compliance in local Regulation& Safety. Goods receive in Warehouse. Cutting, Sewing, Washing, Finishing. Final inspection & Final shipping. 26. US customs & Border Protection ISO 9001-2008. GSV Global Security Verification. Organic 100 (Content Standard). Usage US Green Building Council. RAGS Responsible Association for GarmentSociety. WARP World Wide Responsible AccreditedProduction 27. 8. Benefits provided to workers:-The garment provides several benefits to itsworkers. We have learnt that the garment givesfollowing facilities to its workers:- 28. Salary is given within 7th each month.Monthly bonus.Provident fund 8.3%.Workers Job age minimum 18 years level or up.Free Transport & Home.Maternity benefits (medical facilities & 4+ Basic pay)Central air cooling system.Basic holiday yearly 36 days. 29. 9.Branding:-Regency Garments Ltd. gives much moreimportance in branding Made in Bangladesh. 30. Corporate citizen:-Regency Garments LTD. started pre-primaryschooling programs in 2011.They try to educate children by givingthem learning tools. 31. Human resource Management:-HRM department of an industry is veryimportant. Their main work is to motivate theirworkers. As we learnt from HRM manager ofRegency Garments Ltd. that HRM departmenthas a lot of work to do. Some of these are:- 32. Provide sound compensation package. Provide appropriate motivation. Making work environment friendly to workhappily under pressure. 33. 10. Vision and MissionOur Vision: We stand behind ourgarments products with quality assurance.We believe quality is never an accident. Itis always the result of high intention,design & product development service,guarantee of quality with a world classprofessional personalized service. 34. Our Mission: Our mission is tobe the market leader, in providingclothing from Bangladesh to ourcustomers around the globe.