Ongoing Interest in the Notion of Pay Equity Is Due

question 87

Multiple Choice

Ongoing interest in the notion of pay equity is due to:

• A) the need to eliminate status-blind employment practices.
• B) the increasing number of racial discrimination lawsuits.
• C) the continuing gap between the earnings of women and men.
• D) the increasing number of women in the workforce.

Distinguish between direct materials, direct labor, and manufacturing overhead in cost accounting.

Describe the process of closing underapplied or overapplied manufacturing overhead to Cost of Goods Sold.

Calculate the total cost of goods manufactured.

Understand the journal entry process for recording manufacturing costs and overhead application.

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Definitions:

Risk-Free Interest

The rate of return on an investment with no risk of financial loss, typically associated with government bonds.

Net Present Value

The difference between the present value of cash inflows and the present value of cash outflows over a period of time.

Straight Bond Value

The value of a bond that pays a fixed interest rate (coupon rate) and does not have any embedded options such as convertibility or callability.

Convertible Bond

A bond that offers the option to be exchanged for a specific quantity of the issuing company's stock at chosen intervals throughout its tenure, generally at the choice of the person holding the bond.