On January 6, Wildhorse Co. sells merchandise on account to Pryor Inc. for $6,000, terms 2/10, n/30. On January 16, Pryor Inc. pays the amount due. Prepare the entries on Wildhorse’s books to record the sale and related collection. (Omit cost of goods sold entries.) (b) On January 10, Andrew Farley uses his Cheyenne Co. credit card to purchase merchandise from Cheyenne Co. for $10,300. On February 10, Farley is billed for the amount due of $10,300. On February 12, Farley pays $5,200 on the balance due. On March 10, Farley is billed for the amount due, including interest at 1% per month on the unpaid balance as of February 12. Prepare the entries on Cheyenne Co.’s books related to the transactions that occurred on January 10, February 12, and March 10. (Omit cost of goods sold entries.)

The chromosome manufacturing company produces two products, x and y. the company president, jean mutation, is concerned about the fierce competition in the market for product x. she notes that competitors are selling x for a price well below chromosome's price of $13.50. at the same time, she notes that competitors are pricing product y almost twice as high as chromosome's price of $12.50.ms. mutation has obtained the following data for a recent time period: product x product y number of units 11,000 3,000 direct materials cost per unit $3.23 $3.09 direct labor cost per unit $2.22 $2.10 direct labor hours 10,000 3,500 machine hours 2,100 1,800 inspection hours 80 100 purchase orders 10 30ms. mutation has learned that overhead costs are assigned to products on the basis of direct labor hours. the overhead costs for this time period consisted of the following items: overhead cost item amount inspection costs $16,200 purchasing costs 8,000 machine costs 49,000 total $73,200using direct labor hours to allocate overhead costs determine the gross margin per unit for product x. choose the best answer from the list below.a. $1.93b. $3.12c. $7.38d. $2.43e. $1.73using activity-based costing for overhead allocation, determine the gross margin per unit for product y. choose best answer from list below.a. $10.07b. ($2.27)c. ($5.23)d. ($7.02)e. $7.02