Product Cost Accountant

The Libman Company; Urbana, Champaign (IL, IL); On-site; USD 65,000 - 88,000; Full time

Job summary

The Libman Company in Arcola, IL (onsite) is seeking an experienced Inventory Costing Analyst to manage material costing, BOMs and standard costs for production across injection, extrusion and assembly. This role supports month‑end close and inventory accuracy in a manufacturing setting.

You will update costs daily, analyze unit cost changes, and collaborate with IT to improve costing tools and reporting. A Bachelor’s in accounting with 5+ years of experience is required.

Qualifications

• Bachelor’s degree in accounting and 5+ years of accounting experience.
• Knowledge of GAAP and income tax basis rules.
• Experience with freight costing including duties and customs.

Responsibilities

• Record and audit costing for materials, labor and overhead.
• Prepare, review and analyze inventory costing sheets for book and tax reporting.
• Manage BOMs, routings, and standard costs for production.
• Support month-end close and inventory reconciliation.
• Collaborate with IT on costing-reporting improvements.

Skills

Inventory costing

BOM analysis

GAAP knowledge

Excel

US accounting

Education

Bachelor’s degree in accounting

Tools

Syspro

Costing tool

Job description

The Libman Company (www.libman.com) is a 4th-generation, family-owned consumer products manufacturer of cleaning tools (brooms, mops, brushes) and other cleaning products (sponges, chemicals etc). The vast majority of our products are manufactured in our state of the art 1.8 million square foot facility located in Arcola, IL. We have a strong brand and distribution nationally in the retail and commercial markets. Libman is a major market leader in the USA and also has an international presence in over 15 other countries. We own a major cleaning tools company in Australia, called Sabco, and in the UK, called Dishmatic. We are actively looking to continue our growth.

**MONDAY-FRIDAY; LOCATED IN ARCOLA, IL -ONSITE REQUIRED**

Summary:

Responsible for assigning inventory numbers, creating costing bills of material, calculating unit costs for material and freight, as well as prepare inventory costs for analysis. Prepare, Analyze and Review inventory costing sheets to be used for book and income tax reporting and setting unit sales prices.

• Compute and update material costs in a cost element program daily based on
• -Actual prices from supplier invoices
• -Allocation of domestic freight charges
• -Allocation of international freight charges including duties and custom charges
• -Any additional adjustments for discounts, tooling expenses, etc.
• Respond to managements needs for special costing projects
• Update inventory costing sheets by:
• -Calculating material, labor, and overhead for injection, extrusion and assembly
• -Verifying proper assets costs are being used for calculation
• -Analyzing the change in unit cost since the last calculation
• -Reporting the details in gross margin and selling general and administrative costs
• -Work with IT on any changes needed to the costing tool based on changes in production
• Verify all items in system have a standard cost on daily and monthly basis
• Participate in the weekly check run review and signatures required
• Process and develop routings for rework or display production
• Assign item numbers for inventory items
• Set bill of materials for displays and racking kits and enter sales comments describing display for pick ticket and sales orders
• Prepare, review and analyze physical inventory.
• -Participate in meetings leading up to physical inventory
• -Review issues that occurred in the prior physical and develop improvements
• -Work with IT group to improve reporting system issues from the prior year
• -Audit standard box counts for this year and compare to prior year.
• -Request second count on any unexplained material variances
• -Review physical counts being reported for strange amounts, incorrect part numbers of unusual pack sizes
• -Finalize physical counts
• -Cost raw components and updated unit costs for new standards
• -Update and analyze costing bills of material to productions bills of material
• -Finalize subassembly and finished goods costing
• Assist in inventory discrepancies resolution related to production reporting errors, BOM errors, Syspro issues, etc.
• Prepare receipts and review discrepancies for outside warehouse transfers
• Manage month-end close process related to inventory
• Verify that all inventory has positive balances
• Adjust inventory for any dispatched inventoryReview for any other transactions needed in other Libman Companies

Other:

• Review daily production reports and verify accuracy of back flushing when staff account and primary person are absent
• Back-up for entering U.S. dollar wire payments into the banking web site or approving their disbursement when needed
• Back-up Plant Engineer when absent by creating all bill of material changes and review the backflushing reports before sending these to accounting
• Maintain costing file on items both electronic and hard copy
• Shred documents
• Other duties as assigned

Knowledge and Skill Requirements:

• Bachelor’s degree in accounting with five years of accounting experience
• Knowledge of generally accepted accounting rule
• Knowledge of income tax basis rules
• Working knowledge of freight costing including custom and duties
• Knowledge of Microsoft Office
• Able to operator the following office machines
• -Adding machine
• -Copy machine
• -Computer
• -Scanner

Physical Demands:

Must be able to work at a computer for long periods of time. Must be able to lift 15-20 pounds occasionally.

Working Conditions:

Working conditions are normal for an office environment. Work requires extensive work using a computer. Responsibilities may require evening and weekend work in response to work load.

**MONDAY-FRIDAY; LOCATED IN ARCOLA, IL -ONSITE REQUIRED**