Cost Accountant

For more than 95 years, Standard Process Inc. has been a visionary leader in whole food nutrient solutions. Our whole food philosophy and mission to change lives extends far beyond our supplements to the very people we employ. We value compassion, accountability, respect, and excellence. This strong foundation has created an environment where our employees are seen as members of our family and are given the tools and resources to succeed, both personally and professionally.

Position Summary

Under the direction of the FP&A Manager, the Cost Analyst will be responsible for managing and analyzing the costs associated with our manufacturing processes. This role requires a strong understanding of cost accounting principles, analyze fixed and variable rate assignments, and the ability to analyze overhead rates. This role will support the overall financial health of our company by ensuring accurate and timely reporting of cost structures and margins and collaborate with operations, procurement, and the rest of the finance team to improve profitability, productivity and efficiencies.

Responsibilities

Cost Tracking and Analysis:

• Analyze and monitor the costs of raw materials, labor, and overhead in the production of organic supplements.
• Develop and maintain standard cost models for individua products, considering ingredient sourcing, manufacturing processes, and overhead costs.
• Conduct regular cost variance analysis and identify areas of improvement.

Other Finance & Accounting Support:

• Support the finance and accounting team with Property Plant & Equipment management.
• Assist in other finance and accounting processes related to production.

Inventory Management:

• Oversee inventory control processes and perform periodic inventory reconciliations to ensure accurate financial reporting.
• Coordinate with the procurement and production teams to track and report inventory levels, slow-moving stock, and obsolete inventory.
• Work with independent auditors for testing cycle counts and the year-end physical inventory count.

Budgeting and Forecasting:

• Collaborate with finance and production teams to prepare accurate cost forecasts and budgets
• Monitor actual production costs against the forecasted budget and suggest adjustments when necessary.

Product Costing:

• Work closely with production teams to calculate the true cost of goods sold (COGS) for all categories of products.
• Ensure accurate tracking of costs associated with each batch, including packaging, labor, and materials.

Financial Reporting:

• Assist in the preparation of monthly, quarterly, and annual financial reports that reflect production and cost performance.
• Provide detailed cost reports to management, highlighting any discrepancies and offering actionable recommendations identified in the production variances.

Continuous Improvement:

• • Identify cost reduction opportunities through process improvements and efficiencies in manufacturing.
  • Recommend pricing strategies based on cost structures and market conditions to ensure profitability.

Qualifications

Education:

• Bachelor’s degree in Accounting or Finance.
• Equivalent experience considered.

Certifications/Licenses:

• CPA or CMA designation a plus

Experience:

• Minimum of 2-3 years of cost accounting experience, preferably in the manufacturing or food supplement industry.
• Experience with enterprise resource planning (ERP) systems (IFS is a plus) and a high proficiency with Microsoft Excel.

Specialized Knowledge and Skills:

• Strong knowledge of cost accounting principles, BOM and routings, standard costing, inventory management, and financial analysis.
• Understanding of manufacturing processes and ingredient cost structures is highly desirable.
• Strong analytical skills with the ability to interpret and communicate financial data effectively.
• Ability to work independently and as part of a team in a fast-paced environment.
• Experience with process improvement initiatives and cost-saving projects.
• High level of written and oral communication skills

Necessary Competencies:

• Analytical/Detail-Oriented
• Critical Thinking
• Customer Focus
• Self-Development
• Trust/Respect
• Dependability
• Ethics/Integrity
• Personal Accountability/Professionalism

Benefits Package

Standard Process is proud to be a top workplace! We offer a comprehensive and competitive benefit package, which includes:

• Competitive salary and annual incentive program
• Comprehensive health care and flexible benefit plan, including pet insurance
• Company-matched 401(k) plan
• Profit sharing plan
• On-site childcare with highly accredited curriculum
• Platinum WELCOA award-winning wellness program, including:
  • On-site 24x7 fitness center
  • Whole food court
  • On-site chiropractic care
  • On-site massage therapist
  • Personal trainer
  • Daily fitness classes
  • On-site life coach
  • $450 monthly Standard Process supplement allowance
• Paid time off and holiday time
• Educational assistance
• Company hosted outings and events
• Strong community involvement

Apply today and become part of the Standard Process family!

Standard Process understands the importance of diversity and believes in providing equal employment opportunity for all employees and applicants for employment. Accordingly, all personnel decisions, including but not limited to hiring, compensation, promotions, training, benefits, termination, or other terms and conditions of employment, are made without regard to age, race, creed, color, disability, veteran status, marital status, sex, national origin, ancestry, arrest or conviction record, sexual preference, genetic information, or any other legally protected characteristic in accordance with law.