1)  The Ramapo Company produces two products, Blinks and Dinks

1)  The Ramapo Company produces two products, Blinks and Dinks. They are manufactured in two departments, Fabrication and Assembly. Data for the products and departments are listed below.

Product      Number of Units    Labor Hours Per Unit     Machine Hours Per Unit

Blinks               916                                2                                         4

Dinks                2,231                             3                                         7

All of the machine hours take place in the Fabrication department, which has an estimated overhead of $109,300. All of the labor hours take place in the Assembly department, which has an estimated total overhead of $93,300.

The Ramapo Company uses a single overhead rate to apply all overhead costs. What would the single plantwide rate be if it was based on machine hours instead of labor hours?

2) Ace Industries has current assets equal to $3 million. The company's current ratio is 1.5, and its quick ratio is 0.8. What is the firm's level of current liabilities? What is the firm's level of inventories? Do not round intermediate calculations. Round your answers to the nearest dollar.