Job Description

Job Description

Job Description

Description:

Cost Accountant

Job Title: Cost Accountant Division/Department: Accounting Department

FLSA Status: Non-Exempt/Exempt Reports to: Cost Accounting Manager

EEOC Code:

Employee Status: Professional

Full-Time Last Revision Date: 7/15/2025

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.

PRIMARY RESPONSIBILITIES

1. Process and develop routings for rework or display production.
2. 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 customs charges
• Any additional adjustments for discounts, tooling expenses, etc.

1. Assign item numbers for inventory items and set up finished goods and made in items in the ERP system.
2. Set up bill of materials for racking kits and enter sales comments describing components for pick ticket and sales orders
3. Update Inventory Costing Sheets by:

• Calculating material, labor, and overhead costs for injection, extrusions, 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 &administrative costs

1. Verify all items in system have a standard cost on weekly and monthly basis.
2. Assist in inventory discrepancies resolution related to production reporting errors, BOM errors, Syspro issues, etc.
3. Perform receipts and review discrepancies for outside warehouse transfers.
4. Prepare, review and analyze physical inventory:

• Participate in meetings leading up to physical inventory as well as the inventory count take itself.
• Review issues that occurred in the prior physical and develop improvements
• 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 or unusual pack sizes
• Cost Raw Components and update unit costs for new standards.
• Update and analyze costing bills of material to production bills of material

1. Assist with Month end Close Process related to inventory:

• Verify that all inventory has positive balances
• Calculate, review and post monthly inventory entries
• Review for any other transactions needed in other Libman Companies

1. Other duties as assigned.

ADDITIONAL RESPONSIBILITIES

1. Maintain costing file on items both electronic and hard copy.
2. Shred documents

KNOWLEDGE AND SKILL REQUIREMENTS

1. Bachelor’s degree in accounting or related field with five years of daily cost accounting experience.
2. Strong organization skills with the ability to multitask.
3. Knowledge of generally accepted accounting rules.
4. Knowledge of income tax basis rules.
5. Working knowledge of freight costing including customs and duties.
6. Knowledge of Microsoft Office.
7. Able to operate following office machines:

• Adding machine
• Copy machine
• Computer
• Scanner
• Printer

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.

SPECIAL REQUIREMENTS

Must pass:

• Pre-employment drug screen and physical
• Background check

Employee Benefits

• PTO accrual starts at time of hire; 1 hour earned for every 40 hours worked. PTO can be used for any reason after 90 days of employment.
• Vacation accrual starts once eligibility time has been met; requires supervisor approval to use. Increase in vacation time earned is based on years of service schedule.
• 10 paid holidays once eligibility time has been met.
• Healthcare, dental, and vision along with other voluntary insurances available to employees who have met their eligibility time and work at minimum 30 hours a week.
• $50k life insurance policy provided to employees who have met their eligibility time and work a minimum of 30 hours a week. Additional coverage available at a discounted rate.
• Employee Assistance Program to all employees and their eligible family members with 24/7 access.
• 401 (k) retirement for employees 21 years and older with ability to contribute 1st of the month following date of hire. Company match up to 50% of a 6% employee contribution after 90 days. Company contributions are discretionary and will be made after our internal approval processes are completed and all requirements have been met.
• Profit Sharing for employees 21 years and older, have met minimum required worked hours as of January 1st or July 1st based on date of hire. This is automatically contributed to annually. Company contributions are discretionary and will be made after our internal approval processes are completed and all requirements have been met.
• Sam’s club membership to employees with at least 1 year of service on or before April 1st.
• Tuition reimbursement/seminars for continued education. Company approval is required and must be related to employee’s current or potential future position with the company,

ONSITE REQUIRED 5 day work week

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