Job Description

Cost Analyst (COGS) – WIP

Manufacturing | Full-Time | On-Site

The Cost Analyst (COGS) – WIP is responsible for analyzing, monitoring, and controlling manufacturing costs with a primary focus on Work in Progress (WIP), inventory valuation, labor efficiency, and production cost performance. This role partners closely with Operations, Production, Supply Chain, and Accounting/Finance to ensure accurate cost tracking, margin protection, and data-driven decision-making.

The Cost Analyst will oversee WIP aging, production variances, material usage, labor absorption, and overhead allocation to ensure production orders are completed on time, within budget, and aligned with financial targets. This position plays a critical role in identifying cost drivers, improving processes, and enhancing overall manufacturing profitability while supporting production execution through ERP transactions, planning tools, and reporting systems.

An exceptional Cost Analyst demonstrates strong analytical capability, financial acumen, operational understanding, and the ability to translate production data into actionable business insights with hands-on system proficiency in manufacturing ERP environments.

Essential Job ResponsibilitiesCost Analysis & Reporting

• Track standard vs. actual costs and recommend corrective actions.
• Analyze material, labor, and overhead costs for production orders.
• Identify and explain production variances (usage, rate, efficiency, scrap, rework).
• Prepare weekly and monthly cost performance reports for leadership.
• Support month-end close by reconciling inventory and WIP accounts.
• Own and monitor key production and cost KPIs, ensuring data accuracy, tracking performance trends, and proactively addressing variances within their area of responsibility.

WIP & Inventory Control

• Monitor and reconcile Work in Progress (WIP) balances daily/weekly.
• Analyze WIP aging and identify stalled, inactive, or over-absorbed jobs.
• Partner with Operations to resolve WIP discrepancies and ensure timely job closure.
• Ensure accurate inventory valuation in compliance with accounting standards.
• Review and validate Bill of Materials (BOM) accuracy and material usage variances.
• Execute and support ERP transactions related to production orders including material issues, WIP to FG completion, reversals, and order adjustments.
• Maintain and validate routing, BOM, and standard cost data integrity within the ERP system.

Operational Support

• Partner with Production and Planning to estimate cost impact of schedules and volume changes.
• Support forecasting, budgeting, and margin analysis initiatives.
• Evaluate production efficiency and labor utilization trends through monitoring and challenging Daily Labor Balancing with Supervisors to ensure Direct Labor performance.
• Assist in developing cost reduction initiatives and process improvements.
• Provide financial insight into pricing, quoting, and job profitability (Shop Rates).
• Support production scheduling, dispatch planning, and capacity analysis.

Process Improvement & Controls

• Recommend and present solutions to reduce manufacturing costs while maintaining quality on a weekly basis to the Plant Manager and Finance Director.
• Strengthen internal controls over production reporting and inventory transactions.
• Support ERP system integrity and MRP accuracy.
• Assist in implementing cost accounting best practices.

QualificationsEducation

• Bachelor’s degree in Accounting, Finance, Supply Chain, Industrial Engineering, or related field required.
• CPA, CMA, or CPIM certification preferred.

Experience

• 3–5+ years of experience in manufacturing cost accounting or cost analysis.
• Strong understanding of COGS, Process Improvement & Controls, and Work in Progress (WIP) accounting.
• Experience in standard costing environments and absorption methodology.
• Familiarity with ERP systems and MRP functionality.
• Experience supporting month-end close processes.
• Experience working directly with production orders, BOMs, routings, and manufacturing planning systems preferred.

Technical Skills

• Advanced proficiency in Microsoft Excel (pivot tables, lookups, financial modeling).
• Experience with manufacturing ERP systems (such as Global Shop, SAP, Oracle, or similar) preferred.
• Strong knowledge of cost accounting principles.

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