20 days old

Cost Accountant

Elkton, MD
  • Job Code
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JobId: 395290
JobTitle: Cost Accountant
Department: Finance_Manufacturing
Location: Elkton
Description: Job Summary:
The Cost Accountant will work with the Sr. Cost Accountant to support the monthly plant financial closing, reporting and variance analysis and reporting of manufacturing efficiencies and variance to standard.  They will participate in the annual plant budgeting exercise and generation of new standard costs.  This position will maintain CIP subsystems and support plant projects by providing cost modeling and financial analysis.
Job Details:
1. Financial Reporting:
  • Periodically post completed work order activity to system with corresponding manufacturing variances, research excessive variances and coordinate any necessary corrections
  • Process WIP work orders in order to recognize movement in WIP inventory
  • Trouble -shoot BOMs\/ routings that appear unreasonable
  • Run JDE process for allocation utilities and indirect expenses to direct departments
  • Support preparation of manufacturing financial reports and analysis of Plant Variance Report, analyzing key plant variance drivers: PPV, cycle count, inventory adjustments, over\/under absorption of overheads
  • Report monthly budget vs. actual expense reporting and explain variances to plant leadership
  •   Prepare and organize work papers for internal\/ external audits as required
     2. Manufacturing Reporting:
    • Analyze, report on and when necessary, troubleshoot issues surrounding the weekly\/ monthly material yield reports for plant cost\/operations.
    • Prepare analysis and report on monthly plant performance metrics explaining variances to standard\/plan
    • Actively participate in manufacturing cost reduction programs and subsequent reporting of achievement
       3. Inventory Management & Reconciliation:
      • Reconcile inventory quantities and dollars Ó Raw Material and WIP
      • Support initiatives to streamline and control inventory flow on the shop floor and in the General Ledger.
      • Provide reporting on inventory adjustments, sampling, chemicals consumption, physical\/cycle counts, scrap, write-offs and yield.
      • Support physical\/cycle count activities in warehouse and on the shop floor.

         4. Budgeting & Standard Costing:
        • Actively participate in annual budgeting exercise for Elkton plant
        • Assist in the compilation of departmental and work center budgets
        • Develop new standard costs for products based on budget and explain variances from previous standard
        • Periodically prepare cost absorption simulations depending on volume changes to determine P&L impact
        • Support Business Units in the development of standard costs for new products. 
          5. Capital Projects (CIP):
          • Monitor and track activity on active capital projects and provide monthly reporting to management at all levels.
          • Coordinate with Project Managers to assure timely and accurate management of expenditures and assure they are in line with expectations. 
          • Provide fixed asset listings and depreciation schedules as needed
          • Prepare monthly capital expenditure reconciliation to General Ledger
             6. Cost Modeling and Financial Analysis
            • Working in conjunction with the Financial Analysis Team, support Manufacturing, Operations and Product Development projects by providing financial analysis:
              • Make versus buy cost models\/analysis
              • Cost models for new products and\/or product transfers
              • Provide NPV, IRR, ROI information for key projects
                 7. Maintain and follow TMC Quality System requirements


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Elkton, MD

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Elkton, MD

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51st2018 - Accountant
Overall Rating: 51/220
Median Salary: $69,350

Work Environment
Very Good
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