What are the responsibilities and job description for the Cost Accountant position at Materials and Engineering Company?

Job Description

Job Title : Cost Accountant

Location : Cleveland, Ohio

Department : Finance / Accounting

Reports To : Plant Controller

Position Summary :

The Cost Accountant will play a key role in ensuring accurate cost analysis, financial reporting, and operational efficiency within our manufacturing facility in Cleveland, Ohio . This position is responsible for tracking and analyzing production costs, maintaining standard costing systems, and supporting management in cost control initiatives. The ideal candidate will have strong analytical skills, manufacturing industry experience, and a proactive approach to improving cost structures.

Key Responsibilities :

Cost Accounting & Analysis :

Maintain and update standard costs for materials, labor, and overhead in the ERP system.
Perform variance analysis (purchase price, labor, and overhead) and provide insights on cost fluctuations.
Prepare and analyze cost of goods sold (COGS) and inventory valuation.
Conduct monthly, quarterly, and annual financial close activities related to cost accounting.
Develop cost models to support new product pricing and cost reduction initiatives.

Financial Reporting & Compliance :

Prepare detailed financial reports on manufacturing costs, efficiency metrics, and inventory adjustments.

Ensure compliance with GAAP and internal accounting policies.

Assist in annual budgeting and forecasting related to cost structures.

Support internal and external audits by providing necessary cost accounting documentation.

Inventory & Process Improvement :

Monitor and reconcile inventory transactions , cycle counts, and physical inventories.

Collaborate with operations to identify and drive cost-saving opportunities .

Analyze waste, scrap, and production efficiency metrics to improve profitability.

Work with cross-functional teams (Finance, Operations, and Supply Chain) to enhance cost control and financial transparency.

Qualifications :

Education & Experience :

Bachelor’s degree in Accounting, Finance, or a related field.

3-5 years of cost accounting experience in a manufacturing environment .

Strong understanding of standard costing, inventory management, and variance analysis.

Experience with ERP systems (SAP, Oracle, or similar) is preferred.

Skills & Competencies :

Excellent analytical and problem-solving skills.

Strong proficiency in Microsoft Excel and financial reporting tools.

Ability to communicate financial insights to non-financial stakeholders.

High attention to detail and strong organizational skills.

Ability to work in a fast-paced, deadline-driven manufacturing environment.

Work Environment :

On-site position at our Cleveland, Ohio manufacturing facility .

May require occasional travel to other facilities or corporate offices.

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