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Cost Analyst

It's fun to work in a company where people truly BELIEVE in what they're doing!

We're committed to bringing passion and customer focus to the business.

Cost Analyst Requirements and Responsibilities:

  • Entry level: College degree in Industrial Engineering/Accounting/Business or at least 1-3 years’ experience.
  • Make estimates of new and proposed product and recommends cost efficiencies in new product layouts. Scope of Work is an estimate value of $50,000 or less. Amount quoted could be more as approved by Management.
  • Analyze financial data to expose any information useful in improving operating efficiencies and changes in product design, raw material, manufacturing methods, or services provided, to determine effects on cost.
  • Apply principles of cost accounting (standard cost system) statistics to provide management with detailed and accurate product cost information.
  • Prepare P&L bid templates from downloaded SAP sales quotes.
  • Communicate problems and propose solutions to senior/peer management.
  • Excellent computer skills including Microsoft Excel, Word, and Outlook as well as SAP.
  • Strong analytical skills.
  • Demonstrated ability to work in a team.
  • Creative problem solver.
  • Positive attitude and action oriented.
  • Approximately 80 percent sitting and 20 percent activities on the shop floor.  Some projects may require additional time in the manufacturing area measuring and observing processes.
  • Need to acquire and maintain extensive knowledge of production processes.
  • Knowledge of Time study process.
  • Industrial Engineer background is a plus.

Benefit Details

  • Group Health Insurance
  • Company Paid Group Term Life
  • Dental, Vision, Short Term Disability, Long Term Disability, and Critical Care
  • 401k – Eligible day one of employment (Contributions can be from 1% to 50% of salary. Company match of up to 4% quarterly based on safe harbor election)
  • Holidays – 9 per year (Eligible after 30 days of employment)
  • Vacation time
  • Educational Assistance
  • Employee Assistance Program
  • Onsite Clinic – Free medical visits
  • Safety and Attendance incentives
  • Employee Appreciation Days

If you like wild growth and working with happy, enthusiastic over-achievers, you'll enjoy your career with us! 

Average salary estimate

$50000 / YEARLY (est.)
min
max
$50000K
$50000K

If an employer mentions a salary or salary range on their job, we display it as an "Employer Estimate". If a job has no salary data, Rise displays an estimate if available.

What You Should Know About Cost Analyst, madixinc

At our company in Terrell, TX, we're looking for a passionate and detail-oriented Cost Analyst to join our dynamic team! If you have a college degree in Industrial Engineering, Accounting, or Business, or if you bring 1-3 years of relevant experience, we want to hear from you! As a Cost Analyst, you'll dive into financial data to find opportunities for improving efficiencies and cost-effectiveness across new product designs and manufacturing methods. Your role will involve creating estimates for new projects, analyzing our cost structures, and helping recommend enhancements to boost our operations. We are looking for someone with excellent analytical skills who is comfortable using tools like Microsoft Excel and SAP. You’ll work closely with both senior management and your peers, addressing any challenges that arise and proposing effective solutions. Remember, this is a team environment, and a positive attitude is essential! You will spend approximately 80% of your time at a desk and 20% on the shop floor observing processes, which is vital for maintaining an understanding of our production methods. Our company culture thrives on collaboration and creativity, so if you enjoy solving problems and making a real impact, this role as a Cost Analyst could be the perfect fit for you! Plus, we offer a fantastic benefits package, including health insurance, a 401k plan, holiday and vacation time, and more. Join us, and let's grow together!

Frequently Asked Questions (FAQs) for Cost Analyst Role at madixinc
What are the main responsibilities of a Cost Analyst at our company in Terrell, TX?

The main responsibilities of a Cost Analyst at our company include analyzing financial data to enhance operational efficiencies, preparing P&L bid templates, and recommending cost efficiencies for new product designs. You'll be involved in estimating project costs, applying principles of cost accounting, and communicating both problems and solutions with management.

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What qualifications do I need to apply for the Cost Analyst position in Terrell, TX?

To apply for the Cost Analyst position in Terrell, TX, you should have a college degree in Industrial Engineering, Accounting, or Business, or you can have 1-3 years of relevant work experience. Strong analytical abilities and proficiency in Microsoft Excel and SAP are also necessary for this role.

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What tools do I need to be familiar with as a Cost Analyst in your company?

As a Cost Analyst in our company, familiarity with Microsoft Excel for data analysis and reporting, SAP for managing sales quotes and templates, and standard cost accounting principles will be vital. These tools will assist you in accurately calculating costs and making informed decisions.

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What does the work environment look like for a Cost Analyst in Terrell, TX?

The work environment for a Cost Analyst in Terrell, TX, involves approximately 80% sitting at a desk for data analysis and reporting, while 20% includes activities on the shop floor where you can measure and observe processes. This balance allows you to gain insight into our production methods.

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What benefits can I expect as a Cost Analyst at your company?

As a Cost Analyst at our company, you can expect a competitive benefits package that includes group health insurance, a 401k plan with company matching, paid time off for holidays and vacations, educational assistance, and many more perks that promote wellbeing and growth in your career.

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Common Interview Questions for Cost Analyst
Can you explain how you analyze financial data for cost efficiency?

To analyze financial data for cost efficiency, I start by gathering relevant data and identifying key variables affecting costs. I then use analytical tools and techniques to assess this data. Discussing your experience in data analysis will highlight your suitability for the Cost Analyst role.

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What steps do you take when estimating costs for new products?

When estimating costs for new products, I begin by reviewing historical data and determining key inputs such as materials and labor costs. I then apply standard cost accounting principles to ensure accuracy. Be prepared to illustrate this process with specific examples from your experience.

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How do you handle discrepancies in cost reporting?

I address discrepancies in cost reporting by first conducting a thorough review of the reports to identify the source of errors. Once identified, I collaborate with my team to implement corrective measures and communicate findings effectively. Emphasizing teamwork in your answer can impress interviewers.

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What role does teamwork play in your approach to costing analysis?

Teamwork plays a crucial role in costing analysis, as it fosters diverse perspectives and shared knowledge, leading to more accurate data interpretations and innovative solutions. Sharing a specific project where teamwork improved cost outcomes can strengthen your answer.

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Describe how you prioritize tasks in a fast-paced environment.

In a fast-paced environment, I prioritize tasks based on urgency and impact. I utilize project management tools and maintain open communication with my team to ensure alignment on priorities. This strategic approach helps maintain productivity without compromising quality.

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How do you keep yourself updated with the latest trends in cost analysis?

I keep updated with the latest trends in cost analysis by following industry publications, attending webinars, and participating in professional networks. Sharing specific resources or events can showcase your commitment to ongoing learning, which is important in this field.

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What is your experience with SAP, and how do you use it in cost analysis?

I have hands-on experience with SAP, primarily for retrieving sales quotes and preparing P&L bid templates. Proficiency in navigating SAP significantly streamlines my cost analysis processes. Being specific about your experiences can emphasize your familiarity with the software.

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Can you provide an example of a successful cost-saving initiative you implemented?

I successfully implemented a cost-saving initiative by analyzing production processes which revealed an inefficient use of materials. After making recommendations for improvements, the project resulted in a significant reduction in material costs. Sharing numbers can make your answer more impactful.

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What skills do you think are essential for a Cost Analyst?

Essential skills for a Cost Analyst include strong analytical capabilities, proficiency in financial software, effective communication, teamwork, and problem-solving abilities. Highlighting your strongest skills can demonstrate your fit for the Cost Analyst position.

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How do you communicate complex cost data to senior management?

I communicate complex cost data to senior management by simplifying the information—using clear visuals and concise summaries. Ensuring that key insights stand out allows them to make informed decisions quickly. Providing examples can solidify your response.

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TEAM SIZE
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HQ LOCATION
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EMPLOYMENT TYPE
Full-time, on-site
DATE POSTED
April 17, 2025

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