Merchandise costing $2,300 is sold for $3,300 on terms 2/10, n/30. if the buyer pays within the discount period, prepare the journal entries needed at the time of sale and collection, assuming the company uses a perpetual inventory system. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)a) record the sales on account of $3,300 on terms 2/10, n/30.b) record the cost of goods sold of $2,300.c) record during the discount period the payment in full for the sales on account.

The distinction between a normal and an inferior good is

Nichols inc. manufactures remote controls. currently the company uses a plantminuswide rate for allocating manufacturing overhead. the plant manager is considering switchingminusover to abc costing system and has asked the accounting department to identify the primary production activities and their cost drivers which are as follows: activities cost driver allocation rate material handling number of parts $5 per part assembly labor hours $20 per hour inspection time at inspection station $10 per minute the current traditional cost method allocates overhead based on direct manufacturing labor hours using a rate of $20 per labor hour. what are the indirect manufacturing costs per remote control assuming an method is used and a batch of 10 remote controls are produced? the batch requires 100 parts, 5 direct manufacturing labor hours, and 3 minutes of inspection time.

Aprimary advantage of organizing economic activity within firms is thea. ability to coordinate highly complex tasks to allow for specialized division of labor. b. low administrative costs because of reduced bureaucracy. c. eradication of the principal-agent problem. d. high-powered incentive to work as salaried employees for an existing firm.