What are the responsibilities and job description for the Sr Cost Accountant position at Wayne Fueling Systems?
Key Responsibilities
- Cost Accounting and Inventory
- Maintain and monitor product costing, including standard costs, bills of materials, labor, and overhead rates.
- Analyze manufacturing and inventory transactions to ensure accurate cost accounting and inventory valuation.
- Review and reconcile inventory balances, cost layers, reserves, and related general ledger accounts.
- Support periodic cost updates, standard cost rolls, and inventory revaluations.
- Ensure inventory and cost transactions are recorded accurately and in accordance with company policy and accounting standards.
- Support inventory reserve analysis, physical inventory counts, cycle counts, and related inventory controls.
- Variance Analysis and Business Insight
- Prepare and analyze manufacturing variances, including purchase price, labor, overhead, scrap, material usage, and production variances.
- Investigate manufacturing variances and partner with Operations and Supply Chain teams to identify root causes and explain key drivers.
- Analyze manufacturing cost trends and identify unusual results, risks, or opportunities.
- Provide margin analysis, profitability reporting, and cost insights to Finance and Operational leadership.
- Prepare recurring and ad hoc financial reports related to plant performance, inventory, manufacturing costs, and cost of goods sold.
- Clearly communicate financial results and cost drivers to finance and non-finance stakeholders.
- Financial Close, Controls, & Reporting
- Support monthly, quarterly, and annual close processes for inventory and cost accounting.
- Prepare journal entries, accruals, account reconciliations, and supporting schedules related to inventory, cost of goods sold, and manufacturing expenses.
- Ensure timely and accurate completion of close deliverables and supporting documentation.
- Maintain and strengthen controls around inventory movement, cycle counts, physical counts, and financial reporting.
- Support internal and external audit requests tied to inventory and cost accounting.
- Identify accounting, control, or data-quality issues and drive them through resolution.
- Process Improvement & Cross-Functional Support
- Partner with Operations, Procurement, Engineering, and Supply Chain teams to improve the accuracy of costing inputs and reporting.
- Identify and implement opportunities to simplify and standardize costing and inventory processes.
- Support ERP transactions, data validation, system enhancements, and process improvements related to costing and inventory.
- Recommend practical improvements to reduce manual work, improve reporting quality, and enhance data accuracy.
- Bachelor’s degree in Accounting, Finance, or related field.
- 6 years of accounting experience, with relevant experience in cost accounting, inventory accounting, or manufacturing finance.
- Strong knowledge of standard costing, inventory accounting, reconciliations, manufacturing variances, and cost of goods sold.
- Experience with standard cost updates, BOM/routing reviews, inventory reserves, cycle counts, and physical inventory processes.
- Experience within a manufacturing, distribution, or product-based environment preferred.
- Solid understanding of U.S. GAAP, general accounting principles and internal controls.
- Proficiency in ERP systems (Oracle preferred) and Microsoft Excel.
- Strong analytical and problem-solving skills with the ability to identify and explain manufacturing cost drivers.
- Ability to communicate financial information effectively to Operations and other non-Finance stakeholders.
- Ability to work independently, manage recurring deadlines, and prioritize effectively in a fast-paced environment.
- Demonstrated continuous improvement mindset and ability to partner cross-functionally to drive issues to resolution.