Pakistani Fashion Be More Sustainable
In recent years, the Pakistani fashion industry has shown a growing interest in embracing sustainable practices. Several fashion designers are adopting eco-friendly methods of production, reducing waste and promoting ethical sourcing of materials. They are using natural fibers, organic cotton, and recycled fabrics to create sustainable collections that are not only environmentally conscious but also stylish and affordable. Many brands are also promoting slow fashion and encouraging consumers to buy less and choose quality over quantity. Overall, fashion in Pakistan is moving towards a more sustainable and responsible approach that is beneficial for both the environment and society.
Why is sustainable fashion important?
The pakistan fashion industry is sensationally harmful to the environment. Second, only to oil, the fashion industry is one of the world’s biggest polluters, responsible for 20% of global industrial water pollution. Many people are shocked to know that the majority of clothing is really composed of plastic, resulting in an impending microplastic catastrophe. In addition, the thousands of harmful chemicals used in textile mills are dangerous to both the environment and the people who work in them. Pakistan fashion industry is notorious for its high levels of pollution and consumption, from unsustainable materials to high-emission production processes, many fashion brands need to improve their environmental practices when it comes to being eco-friendly.
Although, many fashion brands are aware of sustainable practices, but it’s not always easy for them to make significant changes. Nevertheless, the fashion industry is already being pushed to adapt by the growing consumer demand for ethical products. We firmly believe that adopting greener, more environmentally-friendly business practices is crucial for both the planet and a fashion business’s future success.
How Can Pakistani Fashion Be More Sustainable:
Following is a list of various eco-friendly practices used to make Pakistani fashion more sustainable.
1, Used Bio-Based Materials:
Using sustainable materials is one of the best ways for fashion brands to reduce their environmental impact. Sustainable materials are those made from natural resources that can be replenished and that do not harm the environment when used or disposed of. The less impact a substance has on land use, water consumption, carbon emissions, and habitat destruction, the more sustainable it is. There are different sustainable materials out there, including recycled and upcycled materials, used Bio-based materials such as cotton that are grown without pesticides or chemicals, and traditional materials that are naturally biodegradable.
2. Minimize Water Consumption:
Since the fashion industry uses a lot of water, cutting back on water use during production is another way for fashion brands to lessen their environmental effect. Since it can be difficult for fashion brands to reduce water consumption during the production process, the best thing they can do is to use fewer materials that require large amounts of water. The amount of water consumed during production can be drastically decreased by simply switching to more environmentally friendly materials like organic cotton or recycled cloth.
3. Avoid Harmful Chemicals:
Fashion Brands can lower the cost of production and the environmental effect of their products by eliminating harmful chemicals in their supply chain. Brands can look for suppliers who clarify which chemicals they use and ensure that those chemicals do not harm people or the environment in order to reduce the use of hazardous chemicals. By minimizing the use of hazardous chemicals, fashion companies can protect both people and the environment from a wide range of environmental problems associated with traditional materials.
4. Protect Biodiversity:
When developing their products, fashion companies must take biodiversity conservation into account. biodiversity not only offers a variety of resources to the fashion industry but also helps prevent climate change. Fashion companies should always research where they source their materials and should encourage their suppliers to do the same to ensure their supply chains support biodiversity.
5. Supply Chain Transparency:
When it comes to ensuring sustainability for their customers, brands should prioritize increased supply chain transparency. Investing in blockchain technology is an innovative way for Pakistan fashion brands to improve transparency in their supply chains. Using blockchain technology, Pakistani fashion brands can ensure that consumers get real-time updates on the production of their products from raw materials to final retailing. By promoting credibility and trust along the entire supply chain with the help of Blockchain technology, fashion businesses can also contribute to improving the reputation of their products.
6. Ensure Fair Working Conditions:
One of the main issues in the fashion business is how workers are treated due to their heavy reliance on low-cost, outsourced labor. Although some fashion brands have succeeded in improving working conditions in their supply chains, most have not done so adequately. There is still much room for improvement to ensure that workers are receiving a fair wage, working in a safe environment, and ensuring the provision of basic human rights. I hope this article will be informative in future.
Absorption Costing MCQs with Answers Explanation Engineering ECE
What Is Absorption Costing?
Absorption costing, also known as the all-encompassing, all-inclusive, or comprehensive costing method, is a sophisticated and perplexing managerial accounting framework that attempts to incorporate all expenses that are linked to the production of a particular product. This method is highly intricate and involves a copious amount of calculations and analyses to arrive at the total cost of production.
Every minuscule expense, whether direct or indirect, such as raw materials, labor, rent, utilities, depreciation, maintenance, insurance, and every other associated cost, is taken into account to determine the total cost of the product. The complexity of this method is staggering, and it requires extensive knowledge of accounting principles, an understanding of manufacturing processes, and advanced analytical skills to execute.
However, despite its complexity, absorption costing is still widely used in the industry due to its comprehensive approach to providing an accurate picture of the cost of production. Moreover, under the generally accepted accounting principles (GAAP) in the United States, absorption costing is an approved method for external reporting. In contrast, variable costing is prohibited, adding to the confusion and perplexity surrounding this topic.
Which of the following costs would NOT be included in the cost of goods sold calculation under absorption costing?
a) Direct materials
b) Direct labor
c) Variable manufacturing overhead
d) Fixed manufacturing overhead
Answer: c) Variable manufacturing overhead
Explanation: Under absorption costing, both fixed and variable manufacturing overhead costs are included in the cost of goods sold calculation. Direct materials and direct labor costs are also included.
When production exceeds sales, absorption costing will result in:
a) Higher net income than variable costing
b) Lower net income than variable costing
c) The same net income as variable costing
d) None of the above
Answer: a) Higher net income than variable costing
Explanation: When production exceeds sales, there will be more fixed manufacturing overhead costs that are absorbed into the cost of goods sold calculation under absorption costing. This results in a higher net income compared to variable costing, which only includes variable manufacturing costs in the cost of goods sold calculation.
Which of the following statements is true about absorption costing?
a) It is used for external reporting purposes
b) It is used for internal decision-making purposes
c) It is the same as variable costing
d) None of the above
Answer: a) It is used for external reporting purposes
Explanation: Absorption costing is required for external financial reporting purposes, such as on the income statement and in financial statements. Variable costing, on the other hand, is often used for internal decision-making purposes.
In a period of increasing production and sales, absorption costing will result in:
a) Higher net income than variable costing
b) Lower net income than variable costing
c) The same net income as variable costing
d) None of the above
Answer: c) The same net income as variable costing
Explanation: When production and sales increase, absorption costing and variable costing will result in the same net income. This is because there will be fewer fixed manufacturing overhead costs per unit under absorption costing, but there will also be more units sold.
