Assistant Manager - Costing

Role & responsibilities

The core responsibility is to establish, maintain, and analyze the true cost of production to support profitability and strategic pricing.

1. Product Costing & Pricing Support

• Standard Costing:

  Prepare and maintain

  Standard Costs

  for all products (e.g., a transformer, switchgear), including Bill of Materials (BOM), labor, and overhead absorption rates.

• New Product Costing:

  Provide accurate cost estimates for new product proposals and tenders, working closely with the R&D and Sales teams to determine profitable selling prices.

• Cost Sheet Preparation:

  Generate monthly/quarterly cost sheets and financial reports for management review.

2. Variance Analysis & Cost Control

• Monitor & Analyze Variances:

  Conduct detailed analysis of the differences between

  Actual Costs

  and

  Standard/Budgeted Costs

  (Material Variance, Labour Variance, Overhead Variance).

• Root Cause Analysis:

  Investigate significant variances to identify the root causes (e.g., scrap, rework, material usage inefficiency) and recommend corrective actions to operations management.

• Cost Reduction Initiatives:

  Track and report the monetary savings achieved from cost-reduction projects across production, procurement, and logistics.

3. Inventory Valuation & Management

• Inventory Valuation:

  Ensure accurate valuation of Raw Materials, Work-In-Progress (WIP), and Finished Goods for financial reporting, adhering to accounting standards.

• Stock Audit Support:

  Assist in periodic physical stock counts and internal/statutory audits related to inventory and cost records.

• Obsolete Inventory:

  Calculate and manage provisions for slow-moving or obsolete inventory.

4. Budgeting & Financial Planning

• Budgeting Support:

  Assist the finance leadership in preparing the annual operating budget, focusing specifically on manufacturing costs, overheads, and inventory targets.

• Cost Forecasting:

  Develop cost forecasts and scenario analysis (e.g., impact of a $1 increase in copper prices) to aid strategic business decisions.

The core responsibility is to establish, maintain, and analyze the true cost of production to support profitability and strategic pricing.

1. Product Costing & Pricing Support

• Standard Costing:

  Prepare and maintain

  Standard Costs

  for all products (e.g., a transformer, switchgear), including Bill of Materials (BOM), labor, and overhead absorption rates.

• New Product Costing:

  Provide accurate cost estimates for new product proposals and tenders, working closely with the R&D and Sales teams to determine profitable selling prices.

• Cost Sheet Preparation:

  Generate monthly/quarterly cost sheets and financial reports for management review.

2. Variance Analysis & Cost Control

• Monitor & Analyze Variances:

  Conduct detailed analysis of the differences between

  Actual Costs

  and

  Standard/Budgeted Costs

  (Material Variance, Labour Variance, Overhead Variance).

• Root Cause Analysis:

  Investigate significant variances to identify the root causes (e.g., scrap, rework, material usage inefficiency) and recommend corrective actions to operations management.

• Cost Reduction Initiatives:

  Track and report the monetary savings achieved from cost-reduction projects across production, procurement, and logistics.

3. Inventory Valuation & Management

• Inventory Valuation:

  Ensure accurate valuation of Raw Materials, Work-In-Progress (WIP), and Finished Goods for financial reporting, adhering to accounting standards.

• Stock Audit Support:

  Assist in periodic physical stock counts and internal/statutory audits related to inventory and cost records.

• Obsolete Inventory:

  Calculate and manage provisions for slow-moving or obsolete inventory.

4. Budgeting & Financial Planning

• Budgeting Support:

  Assist the finance leadership in preparing the annual operating budget, focusing specifically on manufacturing costs, overheads, and inventory targets.

• Cost Forecasting:

  Develop cost forecasts and scenario analysis (e.g., impact of a $1 increase in copper prices) to aid strategic business decisions.

Preferred candidate profile

The ideal candidate for the Assistant Manager Costing role is a highly analytical finance professional with specialized experience in a production-focused environment. This individual will serve as an internal expert, providing the financial intelligence necessary for operational efficiency and profitability across the company.

1. Education and Certification

Cost and Management Accountant (CMA / ICWA)

2. Relevant Experience

3 to 5 years of dedicated experience

3. Technical & System Proficiency

Expert-level proficiency in Microsoft Excel

4. Key Behavioral and Communication Skills

sharp analytical mindset