A. Product Costing and Cost-Model Development

Maintain product cost sheets for materials, labour, utilities, processing, packing, freight, depreciation and overheads.

Set standard, actual, marginal and absorbed costs by product, category, customer and production line.

Define costing methods, cost drivers, allocation bases and overhead absorption principles with plant and finance teams.

Revise standard costs for changes in material prices, utilities, labour, yields, volumes and overheads.

Analyse standard versus actual cost variances across material, labour, power, yield, production and overheads.

Prepare cost estimates for new products, special orders, exports, customised specifications and customer requirements.

Ensure costing models are properly documented, controlled and approved before use.

B. Product Pricing and Customer Commercial Support

Prepare cost-based pricing models and recommend customer selling prices in coordination with sales and management.

Analyse product-wise, customer-wise, order-wise and market-wise profitability.

Determine minimum viable price, contribution margin, gross margin and target margin for customer quotations.

Evaluate the financial impact of discounts, rebates, credit terms, freight, packing, insurance, taxes, commissions and other commercial conditions.

Support sales teams in preparing quotations, tenders, price revisions and negotiation strategies.

Review pricing deviations against approved cost sheets and escalate transactions with inadequate or negative contribution.

Conduct post-order profitability analysis and compare quoted margins with actual realised margins.

Provide pricing sensitivity analysis for changes in raw material prices, energy costs, foreign exchange and customer terms.

C. Process Costing and Manufacturing Performance

Implement process costing for each major production stage, including cutting, processing, tempering, laminating, coating, assembly, packing or other applicable operations.

Identify cost centres, production stages, machines, lines and activities for accurate cost accumulation.

Calculate conversion cost, processing cost, machine-hour cost, labour-hour cost and overhead absorption rates.

Monitor production output, capacity utilisation, machine efficiency, yield, rejection, rework, wastage and downtime.

Prepare process-wise cost statements and analyse cost per square metre, unit, batch, job or other relevant production measure.

Analyse production variances and coordinate with plant teams to identify root causes and corrective actions.

Support make-or-buy decisions, outsourcing evaluations, job-work costing and capacity expansion proposals.

Develop operational cost dashboards for plant and management review.

D. BOM, Routing and Master Data

Create, review and maintain accurate Bills of Materials for all products and variants.

Ensure BOMs reflect actual material consumption, wastage norms, yield assumptions, process requirements and approved specifications.

Coordinate with production, quality, engineering, purchase and stores teams for BOM validation.

Maintain process routings, operation sequences, machine requirements, labour inputs and standard processing times.

Establish approval controls for creation, modification and deletion of BOMs and routings.

Review differences between standard BOM consumption and actual consumption.

Identify obsolete, duplicate, incorrect or incomplete master data and ensure timely correction in ERP/Tally.

Ensure costing and inventory systems are aligned with approved BOMs and production processes.

E. Inventory Valuation and Material Cost Control





Establish and monitor appropriate valuation of raw materials, work-in-progress, finished goods, stores, spares, consumables and packing materials.

Ensure inventory valuation is consistent with applicable accounting standards, company policies and statutory requirements.

Calculate material landed cost, including purchase price, freight, insurance, duties, handling, clearing and other directly attributable costs.

Review WIP valuation based on stage of completion, material consumption, conversion cost and applicable overhead absorption.

Monitor finished goods valuation using approved standard or actual costing methodology, with appropriate variance treatment.

Analyse inventory ageing, slow-moving and non-moving items, excess stock, obsolete materials and potential write-down requirements.

Reconcile physical inventory, ERP records, production records and financial ledger balances.

Support periodic physical verification and investigate shortages, excesses, wastage and unexplained differences.

Provide inventory valuation workings and supporting schedules for monthly closing and statutory audit.

F. Utility Efficiency and Cost Optimisation

Monitor electricity, gas, fuel, water, compressed air and other utility consumption across plants, lines and processes.

Develop utility cost per unit of production, per square metre, per batch or other relevant operating metric.

Track consumption against standards, budgets, production volumes and historical trends.

Analyse abnormal consumption, peak-demand charges, power-factor penalties, idle running, leakage, wastage and avoidable costs.

Coordinate with plant, engineering and maintenance teams to identify utility-saving opportunities.

Evaluate the financial impact of energy-efficiency initiatives, equipment upgrades, process changes and renewable-energy options.

Prepare monthly utility efficiency reports with variance analysis, root causes, action plans and quantified savings.

Monitor implementation and sustainability of approved cost-reduction initiatives.

G. Cost Audit and Maintenance of Cost Records

Maintain cost records and cost statements in the prescribed format and in accordance with applicable cost-accounting requirements.

Coordinate preparation of cost audit schedules, reconciliations, annexures and supporting documentation.

Ensure cost records cover materials, employee cost, utilities, production overheads, administrative overheads, capacity utilisation, production quantities and sales realisation, as applicable.

Coordinate with statutory cost auditors and provide accurate information, explanations and supporting records.

Track cost audit observations, management responses, corrective actions and closure status.

Ensure reconciliation of cost records with financial accounts, inventory records, production records and statutory returns.

Maintain product-wise and process-wise cost records for the required retention period.

Support compliance with applicable provisions of the Companies Act, cost records rules and other regulatory requirements.

Assist in preparation of cost audit reports, management representation and responses to regulatory queries.

H. MIS, Variance Analysis and Management Reporting

Prepare monthly costing MIS covering product cost,



process cost, material consumption, yield, wastage, utility cost, production efficiency and profitability.

Provide product-wise, customer-wise, plant-wise and order-wise margin analysis.

Prepare budget versus actual and standard versus actual cost variance reports.

Highlight major cost movements, margin erosion, abnormal consumption and operational inefficiencies.

Present actionable recommendations to the CFO, Head – Finance & Accounts, plant head and management.

Develop dashboards and analytical reports using ERP/Tally and MS Excel.

Support annual budgeting, rolling forecasts, business plans and investment appraisals with reliable cost data.

I. Controls, Coordination and Team Responsibilities

Establish SOPs and internal controls for costing, BOM changes, inventory valuation, production reporting and cost allocation.

Ensure segregation of duties and proper approval for cost master changes and pricing recommendations.

Coordinate with finance, purchase, stores, production, quality, engineering, sales and commercial teams.

Train relevant users on costing procedures, BOM discipline, production reporting and cost data accuracy.

Maintain confidentiality of product costs, pricing models, customer margins and commercial information.

Support internal, statutory, tax, cost and management audits by providing timely and accurate information.

Continuously identify opportunities to improve costing accuracy, data integrity and decision-support capability.

Key Performance Indicators

Implementation of approved product and process costing methodology across relevant products and production lines.

Accuracy and timely revision of standard cost sheets, BOMs and process routings.

Reliable product-wise, customer-wise and order-wise profitability reporting.

Improvement in quotation pricing accuracy and reduction in margin leakage.

Timely and accurate inventory valuation and reconciliation with financial records.

Reduction in material variance, yield loss, rejection, wastage and abnormal utility consumption.

Identification and quantification of cost-saving opportunities.

Timely completion of cost records, cost audit schedules and audit-query responses.

Timely submission of monthly costing MIS and variance reports.

Improved cost-data integrity, ERP discipline and cross-functional accountability.

Preferred Qualification: Cost and Management Accountant (CMA). CA / CMA Inter with strong relevant costing experience may also be considered.

Graduate degree in Commerce, Finance, Costing, Engineering or a related discipline.

Preferred Experience: 3–8 years in manufacturing costing, plant finance, cost audit or management accounting.

Experience in glass processing, engineering, automotive, chemicals or another process/manufacturing industry will be preferred.

Hands-on experience in product costing, pricing, BOM, inventory valuation, utility analysis and cost records is desirable.

Strong knowledge of product costing, process costing, standard costing and variance analysis.

Practical understanding of manufacturing processes, BOMs, routings, yield, wastage and overhead absorption.

Knowledge of inventory valuation, landed costing and cost-accounting principles.

Understanding of cost audit, cost records and applicable Companies Act requirements.

Strong analytical skills in product profitability, customer pricing and cost optimisation.

Ability to analyse utility consumption and identify energy-efficiency opportunities.

Pay: ₹600,000.00 - ₹900,000.00 per year

Advantages

- Health insurance
- Provident Fund

Work Location: In person

📌 Cost Accountant (Prabhadevi)
🏢 FG Glass Industries
📍 Prabhadevi