"jerry graves and bonnie moss decide to form a partnership. graves will contribute $300,000 to the partnership, while moss will contribute only $30,000. however, moss will be responsible for running the day-to-day operations of the partnership, which are anticipated to require about 45 hours per week. in contrast, graves will only work five hours per week for the partnership. the two partners are attempting to determine a formula for dividing partnership net income. graves believes the partners should divide income in the ratio of 7: 3, favoring graves, since graves provides the majority of the capital. moss believes the income should be divided 7: 3, favoring moss, since moss provides the majority of effort in running the partnership business. how would you advise the partners in developing a method for dividing income

The production manager of rordan corporation has submitted the following quarterly production forecast for the upcoming fiscal year: 1st quarter 2nd quarter 3rd quarter 4th quarter units to be produced 10,800 8,500 7,100 11,200 each unit requires 0.25 direct labor-hours, and direct laborers are paid $20.00 per hour. required: 1. prepare the company’s direct labor budget for the upcoming fiscal year. assume that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced. 2. prepare the company’s direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is not adjusted each quarter. instead, assume that the company’s direct labor workforce consists of permanent employees who are guaranteed to be paid for at least 2,500 hours of work each quarter. if the number of required direct labor-hours is less than this number, the workers are paid for 2,500 hours anyway. any hours worked in excess of 2,500 hours in a quarter are paid at the rate of 1.5 times the normal hourly rate for direct labor.