Sr. Manager - Costing & Cost Control

A. Product & Manufacturing Costing:

• Develop and maintain accurate product-wise costing for all manufactured products.

• Prepare product cost sheets based on BOM, raw materials, direct labour, factory overhead and other production costs.

• Calculate standard cost, actual cost and estimated cost of products.

• Analyze cost per unit and identify opportunities for cost reduction.

• Ensure proper allocation of manufacturing overhead to products.

Review and update product costing whenever there are changes in:

• Raw material prices

• BOM

• Labour cost

• Production process

• Machine utilization

• Factory overhead

• Utility cost

• Packaging cost

• Production volume

B. Standard Costing & Variance Analysis:

• Develop and maintain standard costing systems.

• Compare Standard Cost vs. Actual Cost on a regular basis.

• Identify reasons for significant cost variances and recommend corrective actions.

• Prepare monthly cost variance reports for management.

Analyze variances relating to:

• Material price

• Material usage

• Labour

• Overhead

• Production efficiency

• Yield and wastage

• Machine utilization

C. Cost Control & Cost Management:

• Monitor manufacturing costs against approved budgets.

• Identify unnecessary costs, process inefficiencies and areas of cost leakage.

• Develop cost-control mechanisms for manufacturing operations.

• Conduct cost-benefit analysis for major operational and production decisions.

• Support management in developing cost-reduction and productivity-improvement initiatives.

• Monitor conversion cost, processing cost and factory overhead.

D. Factory Costing:

• Analyze production costs at factory/production-line level.

• Calculate production cost per unit, machine-hour cost and labour-hour cost where applicable.

• Analyze production efficiency, capacity utilization and manufacturing losses.

• Review wastage, rejection, scrap and rework costs.

• Analyze utility costs such as electricity, gas, water and other factory expenses.

• Work with production teams to identify cost-saving opportunities.

E. BOM & Material Cost Management:

• Review and validate BOM-based product costing.

• Analyze raw material consumption against standard consumption.

• Monitor material price fluctuations and their impact on product cost.

• Analyze material wastage and abnormal consumption.

• Coordinate with Procurement and Supply Chain teams regarding material cost trends.

• Support sourcing decisions through cost analysis.

F. Inventory & Stock Costing:

• Ensure proper valuation of raw materials, WIP and finished goods.

• Analyze inventory-related costs.

• Review slow-moving, obsolete and excess inventory from a costing perspective.

• Reconcile production consumption with inventory records.

• Participate in physical inventory verification and investigate discrepancies.

• Ensure proper treatment of production losses, scrap and wastage.

G. Management Reporting:

• Prepare periodic management reports including:

• 1.     Product-wise cost analysis

• 2.     Factory-wise cost analysis

• 3.     Production cost report

• 4.     Standard vs. actual cost report

• 5.     Cost variance report

• 6.     Material consumption report

• 7.     Wastage and scrap analysis

• 8.     Manufacturing overhead report

• 9.     Cost reduction report

• 10. Inventory valuation report

• 11. Profitability analysis

• 12. Product contribution/margin analysis

H. Budgeting & Forecasting:

• Assist in preparation of annual manufacturing cost budgets.

• Prepare factory overhead budgets.

• Develop cost forecasts based on production volume and market conditions.

• Analyze budget vs. actual manufacturing expenses.

• Provide cost inputs for business planning and financial forecasting.

I. Pricing & Profitability Support:

• Provide reliable costing information for product pricing decisions.

• Calculate product-level gross margin/contribution margin.

• Conduct profitability analysis for existing and new products.

• Support management in evaluating new product development and manufacturing feasibility.

• Conduct cost analysis for make-or-buy decisions where required.

J. Process Improvement & Internal Control:

• Identify weaknesses in existing costing and accounting processes.

• Develop appropriate costing procedures and control mechanisms.

• Improve accuracy and reliability of cost data.

• Coordinate with ERP/MIS teams to improve costing modules and reports.

• Ensure proper documentation and audit trails for costing calculations.