Serving the Manufacturing Industry
Manufacturing businesses are involved in the process of turning raw materials into finished goods. Manufacturers must minimize their costs and maximize their efficiency in order to be successful and profitable. In addition, short and long term financing are required to fund ongoing operations. As a result, it is necessary for manufacturing companies to have the required expertise that is necessary to juggle the ever increasing financial demands of their business.
That is where we come in! Wouch, Maloney & Co., LLP has the expertise and experience necessary to implement cost accounting procedures to manage costs and maximize profits. We have systems designed to measure the value and costs associated with each step of the manufacturing process and we know how to translate that information into results. Let our knowledge of the required technology, and our skill at handling the complex and specialized accounting, be an asset to your manufacturing operation.
Let us help you answer these important questions regarding you manufacturing operation:
Internal Management Reporting Systems
- Do you have a system to monitor the job costs of your manufacturing process?
- Are you aware of all or your direct and indirect manufacturing costs including labor, payroll taxes, benefits, and manufacturing overhead?
- Have you determined your fixed and variable costs?
- Do you know your company’s break even point?
Product and Product Line Profitability Analyses
- Do you make decisions based on your numbers or do you just work hard?
- Do you calculate profit margins by product class, product, customer, and sales territory?
- Do you have a budget?
- Do you compare your budgets to your results?
Inventory Management and Control Systems
- Is your inventory properly valued to include indirect costs?
- Do you have systems to manage and maximize your inventory turns?
- Does management periodically perform cost control studies to ensure accurate product cost and pricing?
- Do you have a reporting system that provides current and timely financial data including manufacturing and product financial statements?