Cost Accountant

Company Description Gallant Jewelry is an established jewellery manufacturing and export company based in Jaipur, Rajasthan, specializing in the manufacture of gold, silver and platinum jewellery. Our product portfolio includes:
- Plain gold, silver and platinum jewellery.
- Diamond-studded jewellery.
- Precious and semi-precious gemstone-studded jewellery.
- Gold and silver jewellery findings and components.
- Customized jewellery manufactured for international customers. Our manufacturing operations involve various production processes, including casting, fabrication, stone setting, polishing, finishing, assembly and quality control. We are looking for two experienced, analytical and result-oriented Cost Accountants who can develop effective costing systems, monitor manufacturing expenses, identify inefficiencies and help management improve overall cost competitiveness and profitability. Key Roles & Responsibilities 1. Raw Material Purchase Costing & Control
- Monitor and analyze purchase costs of precious metals, diamonds, gemstones, jewellery findings and production consumables.
- Maintain supplier-wise and item-wise cost records, compare vendor quotations and support purchase negotiations.
- Track historical price variations, material consumption and procurement trends.
- Identify cost-saving opportunities and report purchase price and material quality variances. 2. Jewellery Manufacturing Costing
- Develop and maintain costing systems for gold, silver and platinum jewellery, including plain, studded and customized products.
- Prepare detailed product-wise cost sheets covering raw materials, labour, wastage, consumables and overheads.
- Establish standard costs for different products and manufacturing processes.
- Compare actual versus standard costs and analyze product, category and order-wise profitability. 3. Precious Metal Accounting & Wastage Control
- Monitor metal movement, consumption, recovery and reconciliation throughout the manufacturing process.
- Establish permissible wastage standards and track metal losses, scrap and refining adjustments.
- Investigate discrepancies and implement measures to improve metal utilization and recovery. 4. Labour Costing & Productivity Analysis
- Analyze labour costs across manufacturing departments and processes.
- Monitor employee-wise and department-wise productivity and labour costs.
- Evaluate piece-rate, contract labour and outsourced job-work expenses.
- Identify inefficiencies, excessive labour hours and rework, and recommend productivity improvements. 5. Gold & Silver Findings Costing
- Develop costing systems for gold and silver findings and jewellery components.
- Analyze material consumption, production output, labour, wastage and recovery.
- Establish unit-wise, weight-wise and batch-wise costing benchmarks.
- Identify opportunities to improve production efficiency and reduce component costs. 6. Inventory & Consumables Cost Control
- Monitor inventory costs and consumption of precious metals, gemstones, findings, tools and production consumables.
- Identify excess, slow-moving and obsolete inventory.
- Analyze stock variances, support physical stock verification and improve inventory control.
- Recommend measures to optimize purchases and reduce inventory holding costs. 7. Production Overheads & Expense Analysis
- Monitor factory overheads, including electricity, machinery maintenance, repairs, depreciation and consumables.
- Develop appropriate overhead allocation methods across products and departments.
- Analyze budget variances and identify opportunities for operational cost reduction. 8. Cost MIS, Budgeting & Management Reporting
- Prepare daily, weekly and monthly costing and management reports.
- Develop product-wise, order-wise, customer-wise and department-wise cost and profitability analysis.
- Prepare budgets, cost variance reports and key performance indicators (KPIs).
- Provide actionable insights to management on cost optimization, material utilization and production efficiency.
- Coordinate with purchase, production, inventory and accounts departments to ensure accurate cost reporting.