- Location
- Chicago, IL
- Department
- Finance
- Education
- Bachelor
- Source
- Paylocity
Description
Description
POSITION SUMMARY
Milton Industries makes pneumatic components, specialty tools, and fluid power products at several locations, and runs on the Plex ERP. We are looking for a Manufacturing & Inventory Accountant to focus full-time on monitoring and accounting for our manufacturing and inventory costs.
In this role you will keep our standard costs current, track and explain manufacturing variances, and make sure freight and tariff costs show up correctly in inventory. You will also handle the inventory and manufacturing parts of the month-end close. This is a hands-on accounting job for someone who enjoys detail, owns their area, and works well with operations and purchasing.
KEY RESPONSIBILITIES
- Monitor and account for manufacturing costs, including material, labor, overhead, freight-in, tariffs and duty, so they are captured and recorded correctly.
- Maintain standard costs in Plex and run regular standard-cost updates. Flag items with incomplete or outdated standards.
- Prepare monthly manufacturing variance analysis and explain the main drivers, including purchase price variance (PPV) and over/under absorption by location.
- Work with purchasing to spot vendor price changes and update standard costs to match.
- Compare freight, tariff and duty in standard cost to actual invoices, and update landed costs when they drift.
- Review purchase orders and receipts for costing problems that could misstate inventory, such as tooling charges or items bought from more than one source.
- Prepare month-end inventory and manufacturing journal entries. Reconcile inventory and variance accounts to the general ledger.
- Prepare inventory reserve and slow-moving/obsolete analysis, plus inventory aging and turns reports.
- Support product and SKU margin analysis for pricing and sourcing decisions.
- Help with cost allocations, budget inputs, and year-end audit requests about inventory.
- Help keep inventory and cost accounting consistent across Milton's locations.
Requirements
QUALIFICATIONS & EXPERIENCE
- Bachelor's degree in Accounting or Finance.
- 3+ years of accounting experience, including some cost, inventory or manufacturing accounting.
- Understands standard costing, manufacturing variances and inventory valuation.
- Experience with a manufacturing ERP; Plex is a plus.
- Strong Excel skills, including pivot tables, lookups and large data sets.
- Preferred: experience at a manufacturing company with multiple locations; familiarity with freight, tariffs or imported products. CPA or CMA is a plus but not required.
KEY SKILLS / COMPETENCIES
- Detail-oriented and organized
- Strong reconciliation and month-end close skills
- Takes ownership and follows through
- Works well with operations and purchasing
- Clear communicator
- Comfortable working independently
SUCCESS IN THIS ROLE
- Standard costs in Plex stay current, and outdated or incomplete standards get found and fixed.
- Monthly variance reports (PPV and absorption) go out on time with clear explanations.
- Freight and tariff costs in inventory stay in line with actual invoices.
- Inventory and variance accounts reconcile to the GL every month.
- Inventory reserve, aging and turns reports go out every month.
- Operations and leadership trust the product costs they use for pricing and sourcing decisions.