What are the responsibilities and job description for the Cost Accountant position at THERM-OMEGA-TECH, INC?
Job Summary: The Cost Accountant is responsible for supporting cost accounting, inventory valuation, and financial analysis across the Valve and Electronics business units. This position analyzes manufacturing costs, job profitability, inventory, and cost variances while partnering with Operations, Production, Engineering, and Finance to ensure accurate product costing and financial reporting. The role also supports month-end close, forecasting, fixed asset management, and financial analysis to identify cost drivers and improve overall margin performance.
Responsibilities:
1.Cost Accounting & Variance Analysis:
- Track material, labor, and overhead cost variances across custom valve and PCB build jobs
- Analyze actual job profitability versus expected performance measures
- Liaise with Production and Operations to review favorable and unfavorable cost drivers for completed WIP jobs
- Report scrap, rework, and yield losses to stakeholders
2. Inventory Valuation & Control:
- Complete monthly inventory reconciliation
- Support development and implementation of annual physical inventory count
- Liaise with stakeholders to analyze E&O and slow-moving parts and ensure reserves are adequately applied
- Manage inventory valuation for Valve and Electronics business units ensuring appropriate carrying values in a FIFO environment
- Investigate stock variances discovered during cycle counts
- Engage in lower of cost or market review to ensure appropriate inventory carrying value
3.BOM & Routing Maintenance:
- Partner with Engineering to ensure cost roll-ups and BOM costing align with current manufacturing processes
- Verify labor postings and machine-hour rates applied to manufacturing jobs
- Support development of predetermined labor and overhead rates
- Partner with Engineering/Production to verify BOMs and routings for new valve designs
4.Financial Reporting & Analysis:
- Support month end closing processes
- Lead creation of the COGS forecast to support FP&A annual plan development
- Analyze and report out on root cause of high and low performing product lines
- Oversee full cycle management of fixed assets including CIP, asset additions, disposals, and depreciation schedules
- Analyze product cost elements derived from direct materials, labor, fixed and variable overhead costs and assess impact on margin performance
- Support stakeholders with financial stage gates for proposed business development projects ensuring targeted ROI/project KPIs are achieved