Manufacturing & Inventory Accountant

Milton Industries; Chicago (IL); On-site; USD 70,000 - 95,000; Full time

Job summary

Milton Industries is seeking a Manufacturing & Inventory Accountant in Chicago to monitor and report on manufacturing and inventory costs. The role involves maintaining standard costs in Plex, analyzing variances, and ensuring landed costs align with invoices across multiple locations.

You will handle month‑end inventory, journal entries, and assist with margin analysis and cost allocations. A detail‑oriented, independent worker who collaborates with operations and purchasing will thrive in this

Qualifications

• Bachelor's degree in Accounting or Finance with at least 3+ years in cost, inventory or manufacturing accounting.
• Experience understanding standard costing, variances and inventory valuation.
• Experience with a manufacturing ERP; Plex is a plus.
• Strong Excel skills including pivots, lookups and large data handling.

Responsibilities

• Monitor and account for manufacturing costs (materials, labor, overhead, freight‑in, tariffs) accurately.
• Maintain standard costs in Plex; run regular updates and flag outdated standards.
• Prepare monthly manufacturing variance analysis (PPV and absorption by location).
• Collaborate with purchasing to update standard costs with price changes.
• Compare landed costs to invoices and update when drift occurs.
• Review POs/receipts for costing issues that could misstate inventory.
• Prepare month‑end inventory and manufacturing journal entries; reconcile to GL.
• Produce inventory reserve, aging and turns reports; support margin analysis.
• Assist with cost allocations, budgeting, and year‑end inventory audits.
• Keep cost accounting consistent across Milton's locations.

Skills

Detail-oriented

Organized

Reconciliation

Month-end close

Ownership

Operations collaboration

Communication

Independent work

Education

Bachelor's degree in Accounting or Finance

Tools

Plex ERP

Excel

Job description

Description

POSITION SUMMARY

Milton Industries makes pneumatic components, specialty tools, and fluid power products at several locations, and runs on the Plex ERP. We are looking for a Manufacturing & Inventory Accountant to focus full‑time on monitoring and accounting for our manufacturing and inventory costs.

In this role you will keep our standard costs current, track and explain manufacturing variances, and make sure freight and tariff costs show up correctly in inventory. You will also handle the inventory and manufacturing parts of the month‑end close. This is a hands-on accounting job for someone who enjoys detail, owns their area, and works well with operations and purchasing.

KEY RESPONSIBILITIES

• Monitor and account for manufacturing costs, including material, labor, overhead, freight‑in, tariffs and duty, so they are captured and recorded correctly.
• Maintain standard costs in Plex and run regular standard‑cost updates. Flag items with incomplete or outdated standards.
• Prepare monthly manufacturing variance analysis and explain the main drivers, including purchase price variance (PPV) and over/under absorption by location.
• Work with purchasing to spot vendor price changes and update standard costs to match.
• Compare freight, tariff and duty in standard cost to actual invoices, and update landed costs when they drift.
• Review purchase orders and receipts for costing problems that could misstate inventory, such as tooling charges or items bought from more than one source.
• Prepare month‑end inventory and manufacturing journal entries. Reconcile inventory and variance accounts to the general ledger.
• Prepare inventory reserve and slow‑moving/obsolete analysis, plus inventory aging and turns reports.
• Support product and SKU margin analysis for pricing and sourcing decisions.
• Help with cost allocations, budget inputs, and year‑end audit requests about inventory.
• Help keep inventory and cost accounting consistent across Milton's locations.

Requirements

QUALIFICATIONS & EXPERIENCE

• Bachelor's degree in Accounting or Finance.
• 3+ years of accounting experience, including some cost, inventory or manufacturing accounting.
• Understands standard costing, manufacturing variances and inventory valuation.
• Experience with a manufacturing ERP; Plex is a plus.
• Strong Excel skills, including pivot tables, lookups and large data sets.
• Preferred: experience at a manufacturing company with multiple locations; familiarity with freight, tariffs or imported products. CPA or CMA is a plus but not required.

KEY SKILLS / COMPETENCIES

• Detail-oriented and organized
• Strong reconciliation and month‑end close skills
• Takes ownership and follows through
• Works well with operations and purchasing
• Clear communicator
• Comfortable working independently

SUCCESS IN THIS ROLE

• Standard costs in Plex stay current, and outdated or incomplete standards get found and fixed.
• Monthly variance reports (PPV and absorption) go out on time with clear explanations.
• Freight and tariff costs in inventory stay in line with actual invoices.
• Inventory and variance accounts reconcile to the GL every month.
• Inventory reserve, aging and turns reports go out every month.
• Operations and leadership trust the product costs they use for pricing and sourcing decisions.