Preheat over to 400 degrees. In large bowl, with electric mixer, beat sugar, margarine and shortening. Stir in vanilla extract; and water, oil and baking powder mixture. Add flour, baking soda and salt, 8 drops yellow food coloring and 4 drops red food coloring. Mix well. Place dough between two sheets of wax paper and roll dough to 1/4-inch thick. Cut out using pumpkin-shaped cookie cutters. Place on ungreased baking sheet. Using excess dough, cut out triangles or other shapes and arrange on top of cookies to resemble jack-'o-lantern faces. Bake 8 minutes or until edges are lightly browned. Cool 3 minutes. Transfer to wire rack to cool completely.
Suggestion: Instead of using excess dough to create faces, place your favorite frosting in a plastic zip-top bag, snip off a small corner on the bottom and pipe faces onto cooled cookies.