What are the responsibilities and job description for the Cost Accountant position at Willert Home Products, In?
Willert Manufacturing Co is a leading manufacturing company specializing in the production of high-quality yet cost-effective consumer products. With a commitment to innovation, efficiency, and excellence, we have established ourselves as a trusted name in the industry. We are seeking a Cost Accountant to join our team.
Position Overview:
The Cost Accountant is responsible for tracking, analyzing, and managing costs related to production, labor, materials, and overhead. They ensure that cost data is accurate and provide insights to help management make informed financial decisions. The role involves budgeting, forecasting, variance analysis, and identifying areas for cost-saving opportunities. The position reports to the Plant Controller.
Responsibilities:
- Analyze manufacturing costs (direct materials, direct labor, and overhead) and prepare detailed cost reports
- Prepare monthly, quarterly, and annual cost reports to help management assess profitability
- Conduct variance analysis to compare actual costs to standard or budgeted costs
- Allocate production costs accurately across various products and cost centers
- Assist in product pricing decisions by providing cost information, including direct and indirect costs
- Oversee the accounting of raw materials, work-in-progress, and finished goods inventory
- Ensure accurate inventory valuation and reconciliation in alignment with cost standards
- Assist in developing the annual budget for manufacturing costs, providing accurate estimates based on historical data
- Participate in forecasting future production costs based on market trends, labor rates, and material price fluctuations
- Identify areas of inefficiency in production and make recommendations for cost-saving measures
- Collaborate with production managers to develop and monitor cost-control processes
- Establish and update standard cost systems for labor, materials, and overhead
- Monitor production and compare actual results with standard costs to ensure accuracy and profitability
- Prepare reports for senior management on cost trends, cost savings, and operational performance
- Ensure that cost accounting practices comply with internal policies and external regulations
- Assist in internal and external audits related to cost accounting and financial data
- Help develop and enforce internal controls to prevent cost misallocation or fraud
- Stay updated on industry trends and changes in accounting standards related to manufacturing cost accounting
- Perform other duties as assigned
Qualifications:
- Bachelor’s degree in Finance, Accounting, or related field
- 3-5 years of experience with cost accounting and financial analysis, preferably in a manufacturing setting
- Strong understanding of GAAP and financial reporting requirements
- Relevant experience with inventory management
- Proficiency in ERP systems and advanced Excel skills
- Excellent analytical, problem-solving, and communication skills
- Ability to work collaboratively in a fast-paced environment
- Familiarity with lean manufacturing principles and practices preferred