What are the responsibilities and job description for the Cost Accountant position at STEVES AND SONS INC?
Position Summary
We are seeking a detail-oriented and analytical Cost Accountant to join our finance team. This role is responsible for monitoring, analyzing, and reporting on production costs to support strategic decision-making and operational efficiency.
The ideal candidate will have experience in mid- to large-scale manufacturing environments and a solid understanding of cost accounting principles and finance systems. The Cost Accountant will analyze production and operational costs, inventory valuation, and cost variance reporting to help drive profitability. This position requires strong analytical skills and cross-functional collaboration with operations, finance, supply chain, and engineering teams to identify cost-saving opportunities and improve overall efficiency.
Job Functions and Responsibilities
- Develop and maintain the standard cost system for materials, labor, and overhead, support forecasting and annual budgeting processes.
- Collaborate with engineering to cost new products and ensure the accuracy of Bills of Materials (BOMs).
- Perform month-end closing activities and prepare detailed variance reports explaining differences between actual and standard costs for materials, labor, and overhead.
- Coordinate and conduct physical and cycle counts of raw materials, work-in-progress (WIP), and finished goods inventory.
- Generate and communicate daily production, cost, and variance reports to management; provide profitability analysis, identify cost drivers, and recommend cost-saving measures.
- Partner with manufacturing, engineering, supply chain, and finance teams to resolve cost issues and drive operational efficiencies.
- Analyze production methods and changes in raw materials to determine their impact on costs and identify improvement opportunities.
- Ensure accounting practices comply with Generally Accepted Accounting Principles (GAAP), particularly in relation to financial statements and inventory valuation.
- Model company values by demonstrating the principles: Be Limitless, Be Resilient, Be People-Centered, Be a Team, and Be Trustworthy.