Cost Analyst

SUMMARY:      This position is responsible for reporting detailed and accurate cost and financial analysis to support business operations and decision-making.  Compares inventory record against physical count; investigates inaccuracies and makes recommendations for corrective action.  As a key member of the financial team, this position will also be involved in the budgeting process and month end closing process.  Applies principles of cost accounting to conduct studies which provide detailed cost information not supplied by general accounting systems.

DUTIES AND RESPONSIBILITIES:

·      Responsible for the new item set up and maintenance of the standard costing system.

·      Coordinate the weekly reconciliation of cycle counts of Finished Goods and Raw Materials inventories.

·      Monitor all inventory locations for transactions accuracy.

·      Calculate and record month end inventory and cost journal entries.

·      Participate in inventory related projects.

·      Report on material usage and related variances.

·      Coordinate physical inventory counts and cycle counts.

·      Investigate cycle counting variance and resolve issues.

·      Update standard costs in the bill of materials.

·      Review standards and actual cost for inaccuracies.

·      Validate the cost of goods sold as part of the month end close.

·      Accumulate and apply overhead costs as required by GAAP.

·      Work with Purchasing and Manufacturing to review all obsolete inventory in all sub-inventories.

·      Conduct ongoing process constraints analysis.

·      Report on break-even points by products, by operating units.

·      Report on margin by product and division.

·      Perform other duties as required or requested.

·      Support Sales team when needed to validate new quotes.

·      Works with Engineering group to calculate ROI on all capital projects.

SUPERVISORY RESPONSIBILITES:

·      None

EDUCATION AND EXPERIENCE:

·      Bachelor’s Degree (B.A.) from four-year college or university; five or more years’ related experience in cost accounting and/or training; or equivalent combination of education and experience.

·      General ledger or Financial Accounting experience required.

QUALIFICATIONS:

·      Must have ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists.

·      Must be able to interpret a variety of instructions furnished in written, oral, diagram or schedule form.

·      Excellent verbal and written communication skills in English.

·      Must be proficient in MS Excel and should have knowledge of manufacturing software.

·      Experience of SAP preferred or comparable ERP system.

·      Experience in Manufacturing required.

Requirements

Cost Accountant / Cost Analyst - Key Requirements

• Standard Costing & SAP: Maintain and update product standard costs, BOMs, routings, and costing data within SAP.
• Manufacturing Cost Analysis: Analyze material, labor, and overhead costs, including actual vs. standard variances.
• Inventory Management: Support cycle counts, physical inventories, inventory valuation, and inventory accuracy initiatives.
• Budgeting & Financial Planning: Assist with annual budgets, forecasts, and monthly financial analysis.
• Cost Control & Continuous Improvement: Partner with Operations to identify cost savings opportunities and improve profitability.
• Financial Reporting: Prepare and present cost, inventory, and operational performance reports to management.
• Fixed Assets & Month-End Close: Support fixed asset accounting, inventory reconciliations, and month-end closing activities.

Must-Have Skills

• Manufacturing accounting/cost accounting experience
• Strong SAP and advanced Excel skills
• Standard costing and variance analysis experience
• Inventory and cycle count experience
• Strong analytical and problem-solving abilities
• Effective communication skills with Operations and Management
• High attention to detail

Benefits

• Health Care Plan (Medical, Dental & Vision)
• Life Insurance (Basic, Voluntary & AD&D)
• Family Leave (Maternity, Paternity)
• Short Term & Long Term Disability
• Training & Development
• Employee Assistance Program
• Paid Time Off & Sick Time
• 401K plan with 4% company match