T Bailey's Regular and Overtime Pay for the Week Ending

question 52

Multiple Choice

T. Bailey's regular and overtime pay for the week ending 25 February was $850. Amounts were deducted for: income tax $113.70, union fees $5 and loan repayments of $50. T. Bailey's employer contributes 9.5% of his gross pay to a superannuation fund on his behalf. What is T. Bailey's net take home pay for the week?

• A) $600.55
• B) $736.30
• C) $850.00
• D) $681.30

Understand the components that constitute the cost of goods manufactured and sold in a job-order costing system.

Calculate raw materials used in production from provided data.

Record and interpret journal entries for transactions specific to job-order costing.

Identify and calculate cost of goods manufactured from given data.

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Definitions:

WACC

Weighted Average Cost of Capital; a calculation of a firm's cost of capital in which each category of capital is proportionately weighted.

Component Cost of Debt

The effective rate that a company pays on its current debt, incorporating tax effects.

Preferred Shares

Preferred Shares are a type of stock that grant holders preferential treatment over common stockholders in terms of dividends and assets during liquidation, but usually do not carry voting rights.

Rate of Return

The increase or decrease in the value of an investment, shown as a percentage of the original amount invested, over a given timeframe.