The partnership agreement for wilson, pickett & nelson, a general partnership, provided that profits be shared between the partners in the ratio of their financial contributions to the partnership. wilson contributed $100,000, pickett contributed $50,000 and nelson contributed $50,000. in the partnership's first year of operation, it incurred a loss of $110,000. what amount of the partnership's loss, rounded to the nearest dollar, should be absorbed by nelson?

Lynch company manufactures and sells a single product. the following costs were incurred during the company’s first year of operations: variable costs per unit: manufacturing: direct materials $ 12 direct labor $ 6 variable manufacturing overhead $ 1 variable selling and administrative $ 1 fixed costs per year: fixed manufacturing overhead $ 308,000 fixed selling and administrative $ 218,000 during the year, the company produced 28,000 units and sold 15,000 units. the selling price of the company’s product is $56 per unit. required: 1. assume that the company uses absorption costing: a. compute the unit product cost. b. prepare an income statement for the year. 2. assume that the company uses variable costing: a. compute the unit product cost. b. prepare an income statement for the year.