On january 3, 2010, the partners' interests in the capital, profits, and losses of able partnership were

% of capital profits and losses

-dean: 25%
-poe: 30%
-ritt: 45%

on february 4, 2010, poe sold her entire interest to an unrelated person. dean sold his 25% interest in able to another unrelated person on december 20, 2010. no other transactions took place in 2010. for tax purposes, which of the following statements is correct with respect to able?

a) able terminated as of february 4, 2010.
b) able terminated as of december 20, 2010.
c) able terminated as of december 31, 2010.
d) able did not terminate.

Zachary company produces commercial gardening equipment. since production is highly automated, the company allocates its overhead costs to product lines using activity-based costing. the costs and cost drivers associated with the four overhead activity cost pools follow: activities unit level batch level product level facility level cost $ 64,800 $ 27,730 $ 15,000 $ 154,000 cost driver 2,400 labor hrs. 47 setups percentage of use 11,000 units production of 780 sets of cutting shears, one of the company’s 20 products, took 240 labor hours and 7 setups and consumed 15 percent of the product-sustaining activities. required: (a) had the company used labor hours as a company wide allocation base, how much overhead would it have allocated to the cutting shears? (b) how much overhead is allocated to the cutting shears using activity-based costing? (c) compute the overhead cost per unit for cutting shears first using activity-based costing and then using direct labor hours for allocation if 780 units are produced. if direct product costs are $150 and the product is priced at 30 percent above cost for what price would the product sell under each allocation system? (d) assuming that activity-based costing provides a more accurate estimate of cost, indicate whether the cutting shears would be over- or underpriced if direct labor hours are used as an allocation base. explain how over-or undercosting can affect vaulker's profitability. (e) comment on the validity of using the allocated facility-level cost in the pricing decision. should other costs be considered in a cost- plus pricing decision? if so, which ones? what costs would you include if you were trying to decide whether to accept a special order?

An essential element of being receptive to messages is to have an open mind true or false

What is the relationship between credit and debt?