Accounting Practice at Climax - Accurate Costs Quickly Available to All Operating Departments

AMONG others, one of the most important duties of the accounting department is to disclose to the management the cost of production accurately and as quickly as possible after the ore has been produced and treated. A report is issued daily showing man shifts and the cost of labor, supplies, power, and miscellaneous charges to each department of the operation: mining, crushing, milling, packing and loading, and general expense. Mining costs are broken down into stoping, handling, development, exploration, and miscellaneous, and each of these subdepartmental costs are further broken down into the branches making up the subdepartment. Costs of crushing, milling, packing and loading, and general expense are detailed in the same manner. With such a detailed daily report as this, the management is able to keep in close touch with the efficiency of the entire operation. Because no expense items are deferred or spread over a period, and so that the report does not lose its comparative valve, appearances of unusual charges are explained.