Responsible for the accuracy of standard cost including material and overhead rates. Develop and update labor routings, labor rates, as well as overhead assignments. Resolve cost exceptions related to Supply Chain Cost Rollup.
Communicate variances to standards in a manner that operations can understand and take corrective action as needed. Absorption variance analysis is continuous, but detailed review is part of the month-end close process. Monthly analysis will identify variance drivers per cost element per plant.
Work directly with plant management in performing inventory variance analysis for inventory adjustments, cycle counting, and physical inventory.
Process vendor rebate adjustments for accruals, payments, and other corrections as applicable.
Develop and maintain reporting systems to analyze variances to plan, forecast and prior year periods.
Standard cost development for acquired companies or new facilities. Update cost models and cost pools for any new standard costs.
Support audit functions: internal audit, controls testing, and external audits (KPMG: interim and year-end). The support required will be a combination of supplying audit sample documentation and other associated analysis as needed.
Month-end close duties will require 10 – 25 journal entries and P&L reviews.