Nick company has two products: a and b. the company uses activity-based costing. the total cost and activity for each of the company's three activity cost pools are as follows: total activity activity cost pool total cost product a product b total activity 1 $ 32,600 700 300 1,000 activity 2 $ 17,600 600 200 800 activity 3 $ 52,500 400 100 500 the activity rate under the activity-based costing system for activity 3 is closest to:

The manda panda company uses the allowance method to account for bad debts. at the beginning of 2018, the allowance account had a credit balance of $92,400. credit sales for 2018 totaled $3,190,000 and the year-end accounts receivable balance was $507,500. during this year, $88,500 in receivables were determined to be uncollectible. manda panda anticipates that 3% of all credit sales will ultimately become uncollectible. the fiscal year ends on december 31. required: 1. does this situation describe a loss contingency? 2. what is the bad debt expense that manda panda should report in its 2018 income statement? 3. prepare the appropriate journal entry to record the contingency. 4. complete the table below to calculate the net realizable value manda panda should report in its 2018 balance sheet?