Job Description: Costing Executive
Role Overview:
Responsible for preparing and analyzing product costing, BOM (Bill of Material) cost verification, overhead allocation, and variance analysis. Ensures accuracy of costing data in ERP for pricing, profitability, and decision-making.
Reporting To:
Accounts & Finance Manager
Team Reporting:
None (Individual Contributor)
KRA – Key Result Areas
- Accurate product costing based on BOM and routing
- Monthly cost sheet preparation for all SKUs
- Variance analysis for material, labor, and overhead
- Support pricing and profitability analysis
- Continuous cost control measures
KPI – Key Performance Indicators (Sample Targets)
KPI
Target
Frequency
Product cost sheet accuracy- 100% BOM & routing based- Monthly
Cost variance reporting- Submit by 10th of month- Monthly
Overhead allocation accuracy- 100%- Monthly
Response to cost query- Within 2 working days- As required
Activity Calendar – Micro-Level Tasks
Daily Activities:
- Monitor production reports for material consumption
- Validate BOM accuracy for new and existing products
- Update standard costing in ERP after approvals
- Track scrap and wastage for cost impact
Weekly Activities:
- Review actual vs standard consumption variance
- Verify machine hour and labor hour allocation in ERP
- Support production and planning teams with cost queries
Fortnightly Activities:
- Prepare semi-monthly cost variance report for management
- Update utility cost allocation (power, maintenance)
Monthly Activities:
- Prepare product-wise cost sheet for all SKUs
- Calculate and update overhead absorption rate
- Analyze contribution margin by product line
- Submit material price fluctuation report
Quarterly Activities:
- Support internal audit with costing data
- Review standard cost vs actual cost for adjustments
Annual Activities:
- Support in annual budget preparation (cost assumptions)
- Conduct full cost structure review and suggest cost control initiatives
Operational Responsibilities:
- Maintain accurate costing data in ERP
- Provide cost analysis for decision-making
- Coordinate with production, planning, and procurement for cost-related inputs
Strategic Responsibilities:
- Suggest cost reduction initiatives
- Analyze profitability by customer and product line
- Contribute to pricing strategies with accurate cost data
Competencies & Skills
Functional:
- Strong knowledge of product costing and cost accounting
- Expertise in BOM and process costing
- Advanced Excel for cost analysis
- ERP costing module proficiency
Behavioural:
- Analytical and detail-oriented
- Proactive in cost control measures
- Strong communication with cross-functional teams
Job Types: Full-time, Permanent
Pay: ₹300,000.00 - ₹400,000.00 per year
Benefits:
- Commuter assistance
- Food provided
- Provident Fund
Work Location: In person
