A product costing professional calculates and analyzes the total expense to build a product. This role tracks material, labour, and overhead costs, sets pricing strategies, and runs variance reports to help manufacturing or tech companies improve profit margins.
- Cost Calculation: Compute standard and actual costs for raw materials, direct labour, and manufacturing overhead.
- Variance Analysis: Compare expected production costs against actual expenses and explain differences.
- Cross-Functional Work: Partner with the procurement, engineering, and production teams to control spending.
- Pricing & Budgeting Support: Supply financial data to help leadership set competitive product prices and yearly budgets.
- System Maintenance: Update cost records, bills of materials (BOM), and routings inside enterprise resource software.
