Cost Analyst

We are offering an exciting opportunity in the food production industry located in Grand Rapids, Michigan, for a Cost Analyst. As a Cost Analyst, you will be responsible for tracking and managing all production costs, preparing comprehensive cost reports, conducting variance analysis, and managing inventory.

Responsibilities:

• Accurately track and analyze direct and indirect production expenses, including raw materials and labor costs.
• Prepare and present detailed cost reports, highlighting Cost of Goods Sold (COGS) to provide clear insights into production costs to upper management.
• Collaborate with the production department to review and update Bills of Materials (BOMs) for all products, ensuring they accurately reflect current materials and labor requirements.
• Conduct root cause analysis on significant budget variances to understand underlying issues and suggest corrective actions or adjustments to production processes.
• Participate in the preparation of annual operational budgets for production departments, considering raw material needs, labor costs, and overhead expenses.
• Analyze historical data and trends to forecast future production costs and resource requirements, aligning them with production goals and anticipated product demand.
• Monitor ongoing production expenditures against the approved budget, identifying significant variances in cost categories such as raw materials, labor, and overhead expenses.
• Prepare regular reports assessing profitability by product, product line, and customer, utilizing cost accounting principles to determine gross margins and net contributions.
• Regularly monitor and record raw material inventory levels to ensure adequate supplies for production requirements, ensuring proper inventory valuation through appropriate accounting methods.
• Conduct regular analysis of historical production cost data to identify trends and areas for improvement. • Minimum of 3 years of experience in a Cost Analyst role or similar position
• Proficient understanding and application of Cost of Goods Sold (COGS) principles
• Proven experience in Pricing Analysis
• Proficiency in using NetSuite software for financial management
• Hands-on experience in Inventory Analysis
• Strong knowledge in Gross Margin Analysis
• Demonstrable experience with Bill of Materials (BOM) management