Job Purpose
To manage and execute product costing activities, ensuring accurate cost analysis, cost control, and financial insights to support pricing decisions and operational efficiency.
Key Responsibilities
- Product Costing & Analysis:
- Prepare and update standard product costing for existing and new products.
- Analyse Bill of Materials (BOM), routing, labour, and overhead costs.
- Validate production cost sheets and ensure accuracy of cost components.
- Conduct variance analysis (material, labour, overheads) and highlight deviations.
- Cost Control & Monitoring:
- Monitor manufacturing expenses and identify cost-saving opportunities.
- Review inventory valuation based on standard costing and actual consumption.
- Support budgeting and forecasting for production cost elements.
- Reporting & Documentation:
- Prepare monthly cost reports, contribution margin statements, and profitability analysis.
- Maintain cost master data in ERP systems Ensure proper documentation for costing assumptions, updates, and audit requirements.
- Cross-Functional Coordination:
- Coordinate with Production, Purchase, Quality, and Supply Chain teams for cost inputs.
- Support management in pricing decisions through cost insights.
- Assist in New Product Development (NPD) costing and feasibility analysis.
Qualifications & Experience
- ICWA (preferred)/CA
- 2-5 years of experience in product costing, manufacturing costing, or cost accounting.
- Strong understanding of BOM, process costing, and standard costing.
- Experience with ERP systems; advanced Excel skills required.
(ref:iimjobs.com)
