Oriole Corp. has collected the following data concerning its maintenance costs for the past 6 months. Units Produced Total Cost
July 18,150 $37,407
August 32,256 48,384
September 36,288 55,440
October 22,176 38,304
November 40,320 75,096
December 38,304 62,496

Required:
Compute the fixed cost elements using the high-low method.

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?