The following items are reported on a company's balance sheet: 
Determine the (a) current ratio, and (b) quick ratio. Round your answer to one decimal place.
Definitions:
Machine-Hours
A measure of production time that indicates the total hours machines are operating in the production process.
Machining Department
A specific division within a manufacturing facility where machining processes such as cutting, drilling, or shaping materials are carried out.
Customizing Department
A unit within an organization that adapts products to fit the unique needs or likes of its customers.
Predetermined Overhead Rate
A rate calculated before the accounting period begins, used to allocate manufacturing overhead costs to individual units of product based on a certain activity, like labor hours.
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