Production Cost Accountant

Greythr; Hyderabad; On-site; INR 500,000 - 800,000; Full time

Job summary

Greythr in Hyderabad is seeking a skilled Cost Accountant focused on production costing and cost control. You will monitor material consumption, labour costs and wastage, maintain BOM and standard costing, and prepare cost variance reports.

The role requires 2–5 years in costing/plant finance, preferably in FMCG or manufacturing. You will collaborate with Production, Stores, Purchase and Finance teams to improve cost efficiency and profitability.

Qualifications

• Candidate should have 2–5 years of experience in Costing/Plant Finance/Production Accounting.
• Experience in FMCG, Food, Bakery, Manufacturing or similar industries preferred.
• Hands-on experience with product costing, BOM, inventory and variance analysis.

Responsibilities

• Monitor and analyse production costs, material consumption, labour costs, wastage and inventory.
• Prepare product-wise and batch-wise costing; maintain BOM and standard costing.
• Analyse variances (raw materials, yield, packaging, overheads) and report to management.
• Generate daily/weekly/monthly cost variance MIS and cost control reports.
• Coordinate with Production, Stores, Purchase and Finance teams for cost issues.
• Support internal and statutory cost audits and inventory reconciliation.

Skills

Production costing

Cost accounting

Variance analysis

BOM knowledge

Inventory accounting

ERP / Accounting software

Cost control

Cross-functional coordination

Education

B.Com / M.Com / MBA Finance / CMA (Inter/Qualified) or equivalent

Tools

ERP software

Costing/Inventory modules

Job description

Industry: Food / Bakery / FMCG Manufacturing

Job Purpose

Responsible for monitoring and analysing production costs, material consumption, labour costs, wastage, production efficiency and inventory to ensure accurate product costing and effective cost control.

Key Responsibilities

1. Production Costing

• Calculate and monitor the cost of production for various products.
• Prepare product-wise and batch-wise costing based on raw materials, labour and production overheads.
• Maintain and update BOM (Bill of Materials) and standard costing.
• Compare standard cost with actual production cost and identify variances.
• Analyse cost per unit/kg/batch and report significant deviations.

2. Raw Material & Consumption Analysis

• Monitor raw material consumption against standard/BOM quantities.
• Analyse excess consumption, wastage, rejection and process losses.
• Coordinate with Production, Stores and Purchase teams for cost-related issues.
• Verify material issues and consumption recorded against production.

3. Production Variance Analysis

• Prepare daily/weekly/monthly production cost variance reports.
• Analyse variances relating to:
• Raw material consumption
• Purchase price
• Yield
• Wastage
• Labour
• Packaging material
• Other factory overheads
• Highlight abnormal variances to management and suggest corrective actions.
• Monitor raw material, packaging material, WIP and finished goods inventory.
• Support periodic physical stock verification and reconciliation.
• Identify slow-moving, excess, obsolete and damaged inventory.
• Ensure proper accounting and valuation of production inventory.

5. Factory Cost Control

• Monitor production expenses including manpower, electricity, fuel, repairs, maintenance and other factory overheads.
• Analyse cost per unit and identify opportunities for cost reduction.
• Track production efficiency, yield and capacity utilisation.
• Prepare management reports on factory cost performance.

6. MIS & Management Reporting

• Prepare monthly Production Costing & Cost Variance MIS.
• Provide cost-related data for pricing and new product development.
• Prepare budget vs. actual cost reports.
• Support Finance Head/Factory Head with cost-related analysis and decision-making.

7. Coordination & Audit

• Coordinate with Production, Stores, Purchase, Quality and Finance teams.
• Ensure proper documentation of production records and consumption data.
• Support internal, statutory and cost audit requirements.
• Ensure accuracy and completeness of cost records.

Key Performance Indicators (KPIs)

• Accuracy of product costing
• Timely submission of cost MIS
• Reduction in material consumption varianceReduction in production wastage
• Accuracy of BOM and standard costing
• Inventory reconciliation accuracy
• Identification of abnormal cost variances
• Cost savings identified and implemented
• Timely completion of monthly costing

Qualification

• B.Com / M.Com / MBA Finance / CMA (Inter/Qualified) or equivalent.
• Candidates with Cost Accounting / Management Accounting exposure will be preferred.

Experience

• 2-5 years of experience in Costing / Plant Finance / Production Accounting.
• Experience in FMCG, Food, Bakery, Manufacturing or similar industries preferred.
• Candidates with hands-on experience in product costing, BOM, inventory and variance analysis will be preferred.

Skills Required

• Strong knowledge of production costing and cost accounting
• Good understanding of BOM and standard vs. actual costing
• Good analytical and numerical skills
• Knowledge of inventory accounting
• Ability to identify cost leakages and abnormal variances
• ERP/accounting software knowledge
• Good coordination with factory and finance teams

Preferred Candidate Profile

A hands-on finance professional who can work closely with the Factory, Production, Stores and Purchase teams, independently analyse production costs and provide management with actionable information for improving cost efficiency, productivity and profitability.