Apply fundamental accounting theories and concepts to support the cost accounting function.
Collect, update, and analyze all relevant costing data to develop and maintain standard costs for materials and labor.
Planning, studying, and collecting data to determine costs of business activity such as raw material purchases, inventory, labor, and finished goods
Ownership for item set-up and update costs to drive the accuracy of the bill of materials
Analyzing changes in product design, raw materials, manufacturing methods, or services provided to determine effects on cost and margins
Calculate actual manufacturing costs, prepare periodic reports comparing standard costs to production costs, and investigate variances.
Analyze labor absorption and correct variances to ensure cost accuracy
Review of the integrity and reasonableness of the cost accounting systems periodically
Coordinate periodic physical inventory counts
Managing the month-end financial close process for inventory and related items and liaising with the finance team on the preparation of journal entries, account reconciliations
