Product Costing Analyst

2 weeks ago

West Region, Singapore Knight Auto Precision Engineering Pte Ltd Full time $104,000 - $130,878 per year
Key Responsibilities:

Cost Analysis:

  • Analyze product costs, including direct materials, labor, and overhead, to determine accurate cost structures.
  • Conduct variance analysis to identify discrepancies between standard and actual costs.
  • Interact with ERP system to continuously improve cost allocations and costing accuracy.

Costing Methodologies:

  • Develop and maintain costing methodologies, models and standards to ensure consistency and accuracy in product costing across all sites.
  • Implement and update cost accounting systems and processes as needed.

Business Partnering:

  • Work closely with cross-functional teams, including production, procurement, and sales, to gather relevant data and insights for cost analysis.
  • Collaborate with the FP&A team to support budgeting and forecasting processes.
  • Provide cost data and analysis to support pricing strategies and decisions. Evaluate the impact of cost changes on pricing and profitability.

Analysis & Reporting:

  • Perform regular cost and variance analysis on COGS at product, category, and site level.
  • Conduct variance analysis between standard and actual product costs, investigating root causes and recommending corrective actions.
  • Prepare management reports highlighting cost drivers, trends, and risks with strong focus on product cost dynamics.

Cost Optimization:

  • Identify opportunities for cost reduction and process improvements within the product costing framework.
  • Stay updated on industry trends and best practices in cost accounting and product costing.

Compliance:

  • Ensure compliance with relevant accounting standards and regulations related to cost accounting.
  • Assist in audits and provide necessary documentation related to product costs.

Planning & Forecasting:

  • Provide product cost input into budget, forecasting, and long-range planning cycles.
  • Run scenario analysis and what-if modeling to assess impact of material, labor, and overhead changes on product margins.

Ad-hoc Support

  • Deliver timely product cost analysis for special projects, tenders, and management reviews.
  • Provide cost insights to support strategic initiatives such as make vs. buy, footprint optimization, and product portfolio decisions
Qualifications:
  • Education: Bachelor's degree in Accounting, Finance, Business Administration, Economics or a related field. A Master's degree or professional certification (e.g., CMA, CPA) is a plus.
  • Experience: 3-5 years of experience in cost accounting, product costing, or financial analysis, preferably in a manufacturing or product-based environment.
  • Technical Skills: Proficiency in accounting software / costing systems (e.g., SAP, Oracle, or other ERP systems) and advanced Excel skills.
  • Analytical Skills: Strong analytical and problem-solving skills with attention to detail.
  • Communication Skills: Excellent verbal and written communication skills, with the ability to present complex information clearly and concisely.
  • Team Player: Ability to work collaboratively in a team environment and build relationships across departments.
  • Time management Skills: Ability to meet deadlines while managing multiple tasks.

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