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The Mission
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Company Profile:-
Company History:
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Group Information:
Lucky Cement Limited has been sponsored by Yunus Brothers Group (YB Group)
which is one of the largest business groups of the Country based in Karachi and has
grown up remarkably over the last 50 years. The YB Group is engaged in diversified
manufacturing activities including Textile, Spinning, Weaving, Processing, Finishing,
Stitching and Power Generation. The Group consists of a number of industrial
establishments other then Lucky Cement Limited, they include:
- One of the top spinning mills in the country with 59,508 installed spindles
- Produces 100% Grey Cotton Ring Spun Yarn and wide range of Blended and
Heather Yarns?
- ISO – 9001:2000 certified
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Lucky Energy (PVT) Limited - established in 1993
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Management Flow Chart:
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Accounting and Finance flow chart:-
Manager Finance
Accounting and
Taxation
In-charge Finance
Accounting and In-charge Treasury
Taxation
Financial
Accounting and
Cost Accounting
Taxation
and Department
Reporting
Department
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Department in the Company:-
The major departments are:
• Commercial Department.
• Administration Department.
• Raw Mill.
• Clinker Production.
• Cement Production.
• Procurement Department.
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Cost Accounting Department:-
The cost accounting department is consisting eight employees. Mr. Zia is the
In-charge of Accounting, Finance and Taxation Department. Every employee is
responsible for every activity in the department so it is tough to identify the job
responsibilities of every employee individually. However he listed the following
activities mentioned to the job description of the cost accounting department
employees.
• To track the project costs, expenses and labor hours using Enterprise
Resource Planning system.
• Work with operation to reconcile inventory, job material and work in process
record.
• Assist marketing in setting product prices and assist sales in quantity custom
project by providing cost information.
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Products
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Lucky Cement aims at producing cement to suit every user. The following
types of cement are available:
3. Slag Cement
3. SLAG CEMENT
Slag cement is also available for specific user requirements.
Slag cement, has been incorporated into concrete projects for over a century
to improve durability and reduce life cycle costs. Among its measurable
benefits in concrete are better workability and finish ability, higher
compressive and flexural strengths, and improved resistance to aggressive
chemicals.
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BRANDS AVAILABLE AT LUCKY CEMENT
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Financial
statements
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Process Costing:-
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Raw Material Quarrying:
The main Raw Material is obtained from deposits that predominantly contain
lime stone. The deposits are querries which are worked by means of controlled
blasting.
The rocks broken by the blast are taken to the crushing area by means of
mechanical shovels and trucks.
Stock Pile:
Piece of rocks are placed in hammer crushers, when they come out, they
have been reduced to the size of three centimeter.
Raw Mill:
In this stage the main Raw Material is mixed with other raw material namely
iron ore, over burden, shale in the given proportions.
Clinker Production:
The crude powder is filled in silos from where it is subsequently fed into the
clinker furnace. The crude enters an exchange tower where it is subject to a counter
flow of gas in order to attain a temperature of 850 degree centigrade.
Cement Production:
To clinker, gypsum is added in a proportion of 5 per ton. The material are
then placed in the cement mill where they are ground, mixed and homogenized the
cement is then stored in silos for subsequent consignment.
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Process Costing of Falcon Cement:-
Stock Pile 40 15 0 35
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Direct Material:-
Procedure for Material Department:
Majority of Raw Material required in the cement manufacturing process is
extracted in home. However iron ore- one of Raw material and Coal – source for
generating heat energy during the different process.
The Company import coal from Indonesia from their preset suppliers and
does not go through the process of quoting prices and sampling. Same is the case
for iron ore. The reason for not going through the price quotation and sampling
steps that the company has set fixed suppliers for the procurement of iron ore.
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Direct Labor:-
Procedure for recording Direct Labor:
The salaries of the labor are paid at the end of the month. The salaries are
calculated by multiplying the number of hours worked by the labor and the wage
rate assigned to the labor. The salaries are paid through cheques.
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Factory Overhead:-
Following is the list of Factory Overheads production Department.
Stock Pile 35
Raw Mill 40
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