Excerpt from A Method of Determining Costs in a Cotton Mill That there has been felt for some time the need of a work describing an accurate method of determining costs in a cotton mill, is very evident to anyone in touch with the textile field. It is a subject concerning which there is much misapprehension, the term cost finding being applied, in some cases, to the methods adopted when seeking a figure to use as a quotation on a new fabric the mill has been asked to quote upon. It is evidently not realized, in a case of this kind, that such a figure can be but an estimate, the person, no doubt, thinking that by some subtile means the mill can determine the cost to a nicety, regardless of the costs of any previously manufactured goods. Nothing could be further from the facts in the case. If a mill is to figure on a fabric that it has not previously manufactured, it must, of necessity, base its quotation on costs previously determined, although such costs may be for goods differing in construction from the ones on which it is to estimate. Such quotations must, in the nature of the case, be estimates only, and their degree of accuracy is in direct proportion to the accuracy with which the costs of goods previously manufactured have been determined. The need, therefore, of an accurate method of determining costs is readily apparent, since not only are the cost figures of vital interest when considering goods already manufactured, but they become of equal, if not more, importance when using them on which to base quotations for new fabrics; if these previous costs are not correct, one cannot expect the new figures to be accurate. Indeed, one does not make too strong a statement by saying that a good method of ascertaining the cost of the manufactured product, is the best foundation on which to build the efficiency and economy of a mill. It is well to consider here what this term Good method embraces, when applied to the cost figures of a cotton mill. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.