All Differences in Wages That Are Not Accounted for by Differences

question 160

True/False

All differences in wages that are not accounted for by differences in human-capital investment are likely to be a result of discrimination.

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Definitions:

Manufacturing Overhead

All indirect costs associated with manufacturing, such as indirect materials, indirect labor, and other overhead costs.

Labor Efficiency Variance

The difference between the actual labor hours used and the standard labor hours expected, multiplied by the standard labor rate.

Direct Materials

Raw materials that can be directly traced to the production of specific goods or services.

Direct Labor-Hours

The sum of hours contributed by personnel directly employed in the process of manufacturing.