Cost Accountant

Hire Rightt; Faridabad; On-site; INR 700,000 - 1,000,000; Full time

Job summary

Hire Rightt is seeking a Costing Analyst to develop and maintain standard costing for products and components in our manufacturing operations in Haryana. You will analyze BOM-based costing, track variances, and collaborate with Production, Purchase, and Finance to ensure accurate cost reporting.

Candidates should have 3+ years in manufacturing costing, strong Excel skills, knowledge of BOM, variances, and CMA preferred.

Qualifications

• Minimum 3+ years of relevant experience in a manufacturing organization.
• Strong knowledge of Standard Costing and cost variance analysis.
• Good understanding of BOM, product costing and BOM-based costing.
• Knowledge of material price variance, material usage variance, labour variance, overhead variance.
• Familiarity with inventory valuation and manufacturing accounting.
• Strong analytical and numerical skills with large data sets.
• Proficiency in MS Excel; ERP/MRP experience beneficial.

Responsibilities

• Develop, maintain, and review standard costing for products and components.
• Prepare and analyze product-wise and component-wise cost sheets, including BOM-based costing.
• Analyze actual manufacturing costs against standard costs and identify variances.
• Analyze material price, material usage, labour, overhead variances.
• Investigate significant deviations between standard and actual costs and identify the reasons.
• Coordinate with Production, Purchase, Stores, Engineering, and Finance teams to ensure accurate costing information.
• Review and validate BOMs, routing, material consumption, labour requirements, and overheads from a costing perspective.
• Monitor material consumption and manufacturing process costs to identify areas of cost leakage.
• Establish and periodically update standard costs based on changes in material prices, labour costs, production processes, and overheads.
• Prepare monthly cost and variance reports for management review.
• Support budgeting, forecasting, and cost-control initiatives.
• Conduct product profitability and contribution analysis.
• Identify opportunities for cost reduction and process improvement.
• Ensure proper accounting and allocation of manufacturing overheads.
• Assist in inventory valuation and reconciliation of manufacturing-related inventories.
• Support internal and statutory audit requirements relating to costing and inventory.
• Maintain accurate costing records and ensure timely reporting.

Skills

Standard costing

Cost variance analysis

BOM knowledge

MS Excel

ERP/MRP experience

Cross-functional coordination

Analytical thinking

Problem solving

Attention to detail

Inventory valuation

Education

CMA

Commerce/ Finance background

Tools

ERP/MRP systems

Job description

• Develop, maintain, and review standard costing for products and components.
• Prepare and analyze product-wise and component-wise cost sheets, including Bill of Materials (BOM) based costing.
• Analyze actual manufacturing costs against standard costs and identify variances.
• Analyze material price, material usage, labour, overhead, and other manufacturing cost variances.
• Investigate significant deviations between standard and actual costs and identify the reasons.
• Coordinate with Production, Purchase, Stores, Engineering, and Finance teams to ensure accurate costing information.
• Review and validate BOMs, routing, material consumption, labour requirements, and manufacturing overheads from a costing perspective.
• Monitor material consumption and manufacturing process costs to identify areas of cost leakage.
• Establish and periodically update standard costs based on changes in material prices, labour costs, production processes, and overheads.
• Prepare monthly cost and variance reports for management review.
• Support budgeting, forecasting, and cost-control initiatives.
• Conduct product profitability and contribution analysis.
• Identify opportunities for cost reduction and process improvement.
• Ensure proper accounting and allocation of manufacturing overheads.
• Assist in inventory valuation and reconciliation of manufacturing-related inventories.
• Support internal and statutory audit requirements relating to costing and inventory.
• Maintain accurate costing records and ensure timely reporting.

Job Requirement

• Minimum 3+ years of relevant experience in a manufacturing organization, preferably in a manufacturing unit.
• Strong practical knowledge of Standard Costing and Actual Cost vs. Standard Cost analysis.
• Good understanding of BOM (Bill of Materials), product costing, and BOM-based costing.
• Understanding of material price variance, material usage variance, labour variance, overhead variance, and other manufacturing variances.
• Good understanding of manufacturing processes and cost structures.
• Knowledge of inventory valuation and manufacturing accounting.
• Strong analytical and numerical skills, with the ability to work with large data sets.
• Good command of MS Excel.
• Experience with ERP/MRP systems will be preferred.
• Ability to coordinate effectively with cross-functional manufacturing teams.
• Strong attention to detail and problem-solving ability.
• CMA (Cost & Management Accountant) preferred. Candidates with a relevant degree in Commerce, Finance, Accounting, or Costing, along with strong manufacturing-costing experience, may also be considered.