Cost Accountant

The senior cost accountant position is responsible for all aspects of Manufacturing and Productions cost analysis and Inventory. He/she is responsible for comparing standard cost to actual cost and identifying and explaining variances by customer, product, part number and production jobs. He/she must work closely with engineering and manufacturing personnel to resolve variances and adjust Bills of Materials (BOM's).
Primary Accountabilities/Responsibilities
1. Develop and maintain cost accounting system that ensures accurate costing
2. Calculating production costs
• Execute cost rolls, evaluation BOM, Raw materials prices, labor, overhead rates and propose adjustments as needed to reflect "true" product cost/profitability.
• Prepare product costing and profitability analysis
• Vet assumptions around product cost and model overall profitability of future factory changes (if any)
3. Managing the Cost of Goods Sold (COGS), analyze changes in product design, raw materials, manufacturing methods, or services to determine effects on costs
4. Preparing and analyzing gross margin reports by Product, Customer.
5. Reviewing cost allocation assumptions and rates
6. Assisting in budgeting and forecasting activities
7. Computing breakeven points
8. Produce daily production, variance and ad hoc reports
9. Review and analyze standard and actual costs for variances and prepare reports
10. Update standard costs and ensure accuracy in the BOM's
11. Prepare, analyze and report monthly Gross margin analysis by customer, product / part number and production jobs
12. Study and collect data to determine costs of business activities such as raw material purchases, fixed cost and variable cost
13. Responsible for account reconciliation of physical inventories and cycle counts
14. Prepare periodic inventory reserves reconciliation, analyzing inventory for risk and monitoring with support from internal stakeholders
15. Work on special projects as required
16. Month End Closing
• Manage monthly and quarterly accounting reports for submission to management
• Handle inventory reserve analysis and Physical Inventory on a quarterly basis and generate reports for management
• Apply principles of cost accounting to monitor and analyze financial and prepare analysis reports and assist in Month end closing of the General Ledger
• Close the inventory module and run respective reports. Prepare journal entries and perform account reconciliation
17. Report & Analytics:
• Analyze changes in product design, raw materials, manufacturing methods or services provided to determine cost impact
• Determine actual manufacturing costs and prepare periodic reports comparing standard costs to actual production costs
• Analysis P&L and balance sheet to explain variances and provide guidance for any operational changes needed to rectify variances.
• Review variable costs vs. volume trends and alert abnormalities to Management & handle ad-hoc reporting
• Provide management reports specifying and comparing factors affecting cost of products and support report to external auditor
18. Business Support:
Develop KPIs and costing dashboard. Support manufacturing in optimizing labor/staffing levels by providing analysis of actual hours vs. standard hours vs. paid hours.